AUSTIN, Texas--(BUSINESS WIRE)--XOR Data Exchange, a data analytics company that creates transparent permission-based data exchanges today announced that it has secured $4.2 million in Series A funding led by Fenway Summer Ventures with significant participation from existing investors Chicago Ventures and KGC Capital.
Founded in 2014, XOR’s patent-pending data platform enables companies to participate in cross-industry sharing of information in support of fraud and credit risk, compliance, authentication and marketing initiatives. Exchange members maintain ownership over their data, including who is allowed access and how much can be shared. In return for sharing data, exchange members gain access to the valuable information provided by other exchange members, for example, to better identify fraud and credit risks in new financial services or telecommunications account openings.
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