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Caden
Monetize and learn from your data
š¦ Unicorner Startup of the Week: Caden
āļø Notes from the Editors
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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.
š Check it out: caden.io
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š° Business Model
Caden is available to consumers for free through the iOS App Store. The companyās B2B side, known as CadenOS, works with companies interested in user data.
š 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
š« Founders
John Roa, CEO
Founder and CEO of Caden, John Roa, is not new to entrepreneurship or the digital data space. His previous company, ĆKTA, 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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š¼ Opportunities
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š® Our Analysis
Our relationship with data has changed a lot in the past couple of years. Events like the highly publicized FacebookāCambridge Analytica data scandal highlighted usersā concern for their data, while privacy-focused software updates such as Appleās 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 weāre 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.
š Further Reading
Written by the editors
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