A Harvard Law graduate's pivot from corporate law to AI entrepreneurship just paid off in a big way. MarqVision, the LA-based startup using computer vision to combat counterfeiting, closed a $48 million Series B round led by Peak XV Partners. The funding brings the company's total raised to $90 million as it targets the massive brand protection market worth over $3 trillion annually.
MarqVision founder Mark Lee never planned to become an entrepreneur. The Harvard Law student was following a well-worn family path toward corporate law when a trademark class changed everything. Learning that counterfeiting represents the world's largest criminal enterprise - worth $3 trillion annually - sparked an idea that would reshape his career trajectory.
"I saw it as a universal problem that could be solved with computer vision," Lee told TechCrunch in an exclusive interview. That insight became MarqVision in 2021, combining "Marq" from trademark and "Vision" from the AI technology powering its platform. Now the LA-headquartered startup has closed a $48 million Series B round, bringing total funding to $90 million as it scales its fight against brand abuse.
The timing couldn't be better. As e-commerce exploded during COVID, counterfeit markets grew 20% annually, fueled by marketplaces and social media platforms where fake products proliferate faster than brands can stop them. Peak XV Partners - formerly Sequoia Capital India & SEA - led the round, with participation from Salesforce Ventures, HSG (formerly Sequoia China), Coral Capital, and Y Combinator partner emeritus Michael Seibel.
The fresh capital addresses three critical growth areas. Roughly $24 million will expand MarqVision's AI and engineering teams to accelerate automation and integrate generative AI across its product suite. Another $10 million targets enterprise readiness as the company moves upmarket to serve larger brands. The remaining $10 million funds regional expansion, with Japan becoming the latest market after establishing operations in the U.S., Korea, China, and Europe.
MarqVision's meteoric growth tells the story of AI transforming a traditionally labor-intensive industry. The startup reached $1 million in annual recurring revenue within eight months, hit $10 million in three years, and recently crossed $20 million after four years of consistent doubling. With over 350 customers spanning fashion, luxury, gaming, pharmaceuticals, entertainment, automotive, and consumer electronics, the platform has evolved far beyond its original counterfeit-fighting mission.
