XOR Data Exchange, an Austin, TX-based provider of a platform that facilitates cross-industry data sharing through permission-based controls and audits, closed a $1.8m funding round.
The investment was led by Chicago Ventures and KGC Capital. In addition to the funding, Norm Willox, an expert in high-growth companies in the information services sector, joined XOR’s board of directors.
The company intends to use the funds to expand its team of technical and analytic experts and scale its hardware infrastructure.
Led by Mike Cook, founder and CEO, XOR Data Exchange provides customers in financial services, telecommunications and other industries with a permission-based data exchange, which enable multiple, non-linear data-sharing relationships across competing and non-competing companies and industries. Its data exchanges give data owners precise control over the specific conditions under which their data can be accessed, by whom and for what purpose. A comprehensive audit trail gives owners a complete picture of how their data is being used.