Companies like this probably exist, but I'm sure they don't come cheap and are used primarily by the big players (eg music labels, movie studios).
I think it is great that Matt is donating the money to charity. However, the idea of putting the money towards some kind of community focused content monitor struck me as an interesting alternative.
I also wonder to what degree something like this could be automated. I know sites like YouTube monitor their own content, but what if Matt could upload all his images, verify his ownership in a legally meaningful way, and then automatically monitor Funny Junk and issue takedown notices in real time.