NEW YORK, Aug. 16, 2023 (GLOBE NEWSWIRE) -- Data intelligence company Caden has announced a $15 million Series A round led by Nava Ventures, with participation from Jerry Yang’s AME Cloud Ventures, Streamlined Ventures, Montage Ventures, Industry Ventures, 1707 Capital, AAF Management, and others.
Caden has established itself as a leader in the rapidly evolving consumer data landscape, empowering end users and businesses to harness the full potential of ethically-sourced first-party data for actionable insights and decision-making. The latest investment marks a significant milestone for the company, enabling it to accelerate product development, enhance market activation, and bolster its team of top-tier talent.
The company empowers users to finally take control of their personal data and make money from it. The Caden mobile app allows users to automatically pull in data on what movies they watch, where they travel, what they buy, etc., and see fun and insightful analytics on their consumer profiles. They can then opt-in to monetize their data in various privacy-centered ways, creating a safe passive income stream.
Caden launched its mobile app earlier this summer and instantly achieved rapid user adoption and growth. Users have already shared billions of data points with the company—with hundreds of millions more being shared daily—demonstrating the power of ethical user-centered data acquisition. Hundreds of thousands of dollars in compensation have already been distributed to users as well.
The company also recently announced Caden AI, the first version of its personal assistant that has the unique ability to automatically train on a user’s media consumption, purchases, travel, exercise, and more, creating the first truly personal Generative AI.
For the enterprise, Caden’s data set is made available via an intelligence suite called CadenOS that empowers customers in financial services, advertising technology, artificial intelligence and more to tap into a one-of-a-kind “hyper-panel” of consumer behavior. Example use cases include aggregated analytics products for hedge funds, real-time event streams for retail media, and robust foundational training models for AI companies. Above and beyond the power and dimensionality of the data, the core selling point for CadenOS is the automatic privacy compliance and provenance of the data as enterprises face more scrutiny around consumer data practices.
"We are thrilled to have secured this milestone investment round, validating our value and potential," said John Roa, CEO and Founder of Caden. "With the support of our new and existing investors, we intend to transform the consumer data market by building the most ethical, actionable and valuable data intelligence company in the world."
Nava Ventures, a seasoned investor known for backing disruptive technology companies, expressed enthusiasm for leading the round. "Caden has showcased exceptional traction in acquiring and activating ethical consumer data, and we are excited to partner with them on their ambitious mission," said Freddie Martignetti, Partner at Nava Ventures. "We hope that our collaboration can enable individuals to have greater control over their data and lay the groundwork for a new relationship between individuals and enterprises."
About Caden
Caden is a data intelligence company, operating a two-sided platform that empowers users to own, control and profit from their data, and innovative products for the enterprise to create competitive advantages through a one-of-a-kind, ethical hyper-panel. Caden believes every digital citizen should be a part of the data economy and be able to decide how their data is used and what they deserve in exchange. Privacy and control are paramount, so Caden users can rest assured that every function and product protects their privacy while improving the internet.
