Datacy raises $2.4M to help consumers monetize their own damn data

This morning Datacy, a startup with its headquarters in Wilmington, Delaware, announced that it has closed $2.4 million in new funding to continue building its consumer-friendly data collection and monetization service.

The company is effectively an argument that the preceding sentence is possible. Datacy is a tool that allows individuals to collect their browsing data, manage it, have it anonymized and aggregated with others and then sold. The end-user gets 85% of the resulting revenue, while Datacy takes 15%.

Its model has found financial backing, with its new capital coming from Trend Forward Capital, Truesight Ventures, Redhawk VC, the Female Founders Alliance and others. The startup raised the funds using a convertible note that was capped at $9.5 million, though TechCrunch is not certain whether or not there were other terms associated with the fundraising mechanism.

Regardless, Datacy’s model fits into the modestly more privacy-forward stance that the technology world has taken in recent years; Apple is not the only company looking to make hay off of what some consider to be rising consumer interest in keeping their activities, and data, to themselves. But what Datacy wants to do is merge the consumer privacy impulse with profit.

According to company co-founder Paroma Indilo, her startup is not a cookie blocker. She told TechCrunch that if someone wants to block data collection, there are good tools for the task in the market already. What Datacy wants to do, she said, is evolve from its current status as a (Read more...)