XOR Data Exchange operates a patent-pending, permission-based data platform that enables cross-industry sharing of information to support fraud and credit risk, compliance, authentication and marketing initiatives. Exchange members maintain ownership of their data and control who is allowed access and how much can be shared. In return for sharing data, members gain access to otherwise unobtainable datasets to better identify fraud and credit risks in new financial services or telecommunications account openings. Founded in 2014 and based in Austin, Texas, XOR has focused to date on the financial services and communications industries and plans to expand to other sectors. The company is led by CEO Mike Cook and announced it secured $4.2 million in Series A funding led by Fenway Summer Ventures with participation from existing investors Chicago Ventures and KGC Capital. XOR Data Exchange provides a permission-based data exchange platform that enables multiple, non-linear data-sharing relationships across competing and non-competing companies and industries. Its platform gives data owners precise control over the conditions under which their data can be accessed, by whom, and for what purpose. A comprehensive audit trail offers owners a complete picture of how their data is being used. XOR serves customers in financial services, telecommunications and other industries. Led by founder and CEO Mike Cook and based in Austin, TX, the company plans to use newly raised funds to expand its technical and analytic team and to scale its hardware infrastructure.

Total raised

$6M

Funding rounds

2

Latest round

Series A

Latest activity

Sep 2015