CHARLOTTE – A startup connecting advertisers and publishers with near-real-time financial insights has raised $2.37 million in debt, according to a recent SEC filing.
Commerce Signals, with offices in Charlotte and Palo Alto, California, secured the funds from 16 investors. The round is capped at $3 million, with around $628,000 remaining to be sold.
Commerce Signals
The filing didn’t disclose how the funds would be used, and the firm didn’t return calls for comment from WRAL TechWire.
In total, Commerce Signals has raised more than $21 million since 2015.
To develop its new data-sharing model, the firm’s founder, Thomas Noyes, teamed up with Russ Schrader, the former chief privacy officer of Visa and a member of the Department of Homeland Security’s Data Privacy Committee.
The result: a model called Federated Data that enables insight sharing between businesses without losing control of the data or sacrificing consumer privacy.
The system also enables “near-real time measurement of marketing effectiveness.”
Already, the company said it has three patents granted and “numerous others pending.”
“Accurate data is great, but timely and accurate signals are actionable. Providing those is what really make us stand out,” the firm states on its website.
Other recent funding news from WRAL TechWire
Energy drink Mati raises $3.6 million in equity from 30 investors
