Caden, a New York-based personal data company, raised $6M in Seed funding.
The round was led by Streamlined Ventures with participation from Jerry Yang’s AME Cloud Ventures and 1707 Capital, Industry Ventures, Montage Ventures, Akuna Capital, and Lightning Capital, bringing total funds raised to $9.4M.
The company intends to use the funds to launch the Caden platform and further build out the team in New York City.
Caden is a user-centered data company, providing an Open Data platform, which puts users firmly in the middle of the data marketplace, empowering them to control their first-party data and make money from it.
For consumers, it empowers everyone to take control of their personal data and make money from it. The mobile app allows users to pull in data on what movies they watch, where they travel, what they buy, etc., and see insightful analytics on their consumer profiles. They can then opt-in to monetizing their data in a variety of ways, creating a passive income stream that never treads on their privacy.
For businesses, Caden is an “ethically-sourced” first-party data provider, bringing actionable data streams to the open market via its proprietary Knowledge Graph platform. Data can be consumed in anonymized/aggregated ways for alternative data buyers, organized by various Unique IDs for advertising tech, or made available on an identifiable basis for specific use cases. All of the above requires explicit opt-in consent from the user.
Caden’s flagship mobile product is currently in closed beta and will be released to the public in the first quarter of 2023.
FinSMEs
05/01/2023