Swift-Find Secures $8 Million Funding in First Round Co-Led by Carmel Ventures and Accel Partners1
Tel Aviv, Israel – April 26, 2006 – Swift-Find, an on-line, real-time registry of valuables for identifying the ownership and authenticity of valuable goods, announced today that it closed an $8 million round of financing from Carmel Ventures and Accel Partners. As part of the financing, Harel Beit-On, General Partner of Carmel Ventures and Kaj-Erik Relander, General Partner of Accel Partners will join Swift-Find’s Board of Directors.
“Swift-Find is a thought leader in the field of on-line valuables registration and search”, said Harel Beit-On, General Partner of Carmel Ventures. “As a data aggregator of reported stolen goods globally, we believe Swift-Find will emerge as a key enabler for the growth of on-line commerce”
Kaj-Erik Relander, General Partner of Accel Partners said: "Accel Partners seeks out companies around the world with unique, breakthrough ideas and the courage to be first – and we see these qualities, along with a strong management team and business model, in Swift-Find."
Benny Arbel, CEO of Swift-Find, said: “The theft of valuable property is one of the most common types of international crime, and stolen property is often offered for sale on on-line auctions and other legitimate market places, deterring customers from buying online. Until today, there was no easy way to check if the item was reported lost or stolen, and thereby protect oneself from the financial and professional damage that can result from unwittingly buying or trading in stolen goods. To make sure match results are credible, Swift-Find incorporates sophisticated visual matching technology, which transcends the problems of text-based searching caused by differences in descriptions, jargon or language."
Swift-Find is the on-line, real-time registry of new, used and stolen valuables and is a critical tool for auction houses, pawnbrokers, insurance, finance companies, law enforcement agencies and consumers to verify ownership, and to recover, claim for and replace valuable property.
Created by retail, insurance and hi-tech executives, Swift-Find is becoming the world’s first on-line standard for checking the likely integrity of valuables in real time. For more information please visit: www.swift-find.com