Monetize and learn from your data

🦄 Unicorner Startup of the Week: Caden

✍️ Notes from the Editors

Happy Monday!

In case you missed it last week, we’re giving away a $100 Amazon gift card to whoever refers the most people to Unicorner by next Monday.

Here’s the thing, though: as of right now, the top number of referrals is 2.

That means you literally have to refer more than 2 people to potentially win $100. Easiest money ever made? Yes. Check the bottom of this email for more info on participating.

In other news, for our LA readers: Glendale Tech Week will be taking place from Sept. 12-14. Our friends at the startup incubator and co-working space Hero House are hosting ten different events over the span of three days, including startup panels, a founder/funder brunch, and more.

You can see the full list of events and register here. Hope to see you in Glendale next week!

- Ethan and Arek 🦄

Monetize and learn from your data

Caden is a platform that enables users to choose what data they share with companies and get paid for sharing. The company is leveraging generative AI to provide users insights, such as places they should visit on an upcoming trip, based on the data they provide. On the business side, Caden provides user data to companies with analytics.

🔗 Check it out:

💰 Business Model

Caden is available to consumers for free through the iOS App Store. The company’s B2B side, known as CadenOS, works with companies interested in user data.

📈 Traction and Fundraising

  • Raised $15 million Series A led by Nava Ventures with participation from Streamlined Ventures, Montage Ventures, Lightning Capital, Industry Ventures, B3 Capital, AME Cloud Ventures, AAF Management, and 1707 Capital

  • Claims over 100,000,000 data points acquired per day

👫 Founders

Founder and CEO of Caden, John Roa, is not new to entrepreneurship or the digital data space. His previous company, ÄKTA, a digital experience and engagement consultancy, was acquired by Salesforce five years before the founding of Caden. Since then, the way consumers share their data and laws governing data regulation have changed dramatically. Thus, Caden was born.

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🔮 Our Analysis

Our relationship with data has changed a lot in the past couple of years. Events like the highly publicized Facebook–Cambridge Analytica data scandal highlighted users’ concern for their data, while privacy-focused software updates such as Apple’s App Tracking Transparency update have changed the landscape for how companies can collect data. Given these changes, Caden is providing an interesting value proposition to both consumers providing data to companies and the companies that desire that data.

The company offers everyday users the ability to control what data they anonymously share and to earn from it, something we are used to giving away for free today. Caden has also taken the extra step of providing users insights into their data, including personalized tips. Companies looking for data can obtain it from Caden, knowing it was fairly purchased with privacy and compliance in mind. Moreover, the company offers analytics products, including advanced data views and AI-ready solutions. Convincing customers on both sides of its business to change their habits will be a challenge, but we’re optimistic that Caden can succeed. Perhaps the changes in the data landscape, combined with the AI boom that necessitates clean data, can be a catalyst for growth.

📚 Further Reading

Written by the editors

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