CHARLOTTE, N.C., Oct. 26, 2015 /PRNewswire/ -- Commerce Signals, a new data collaboration company serving retailers, mobile operators, banks and payment networks, today announced it has secured $4 million in a Series A funding round led by OpenAir Equity Partners.
Commerce Signals' Federated Data™ platform transforms the way companies share and collaborate on data. It enables data owners, such as mobile operators, payment entities and others to share their data, while ensuring it remains within their own infrastructures -- an approach that lets them retain control over where and to whom data is sent, as well as the use for which it is intended. At the same time, the Federated Data platform gives purchasers of data -- digital ad companies, retailers, and others -- the opportunity to access the rich customer insights generally held by the regulated sector. The Commerce Signals approach encourages trust and protects consumer privacy and data ownership, while facilitating value-added customer experiences and transactions. "Consumers and companies won't support data sharing without trust and control. Data must be held locally, with a clear trail of where and how it is used," said Commerce Signals founder and CEO, Thomas C. Noyes. "Regulated entities like banks and mobile operators have tremendous data assets that must be internally managed and closely controlled, but those assets need to be combined with external data to create the great experiences, products and services customers want. We solve this problem with our new model: Federated Data. We allow each participant to control data locally, with strict parameters on how the data interacts with new partners. We tell our customers: it's 'your data, your environment, your permissions.'" Commerce Signals' "neutral platform" includes a patent-pending signals model. The company does not store the data. Businesses maintain data within their own environments and share only de-identified, encrypted, aggregated data signals that match the specific need of the purchaser. Along with more control for the data supplier, data purchasers can be more specific and targeted in their efforts, and better track and measure ad effectiveness.