Digital-data startup Krux Digital raises US $35 million in funding
What: Digital-data startup Krux Digital Inc. raised $35 million in funding.
Why it matters: Krux is a DMP that collects and analyzes information about people’s habits and interests.
The fundraising values Krux at about $150 million, according to the WSJ. Krux is a DMP that collects and analyzes information about people’s habits and interests. Accoding to the company, they have repositories of information on tens of millions of consumers’ online and real world behaviors.
Accel Partners and IDG Ventures ar part of the existing investors of the Series B round and SAP Ventures, Time Warner, Temasek and Taizo Son are new investors.
"Yet the information increasingly is controlled by a handful of large companies, including Google Inc., Facebook Inc., Adobe Systems Inc. and Oracle Corp. Each of them is acquiring personal-data companies as they assemble a suite of tools for retailers to better predict who is likely to buy from a new Prada clothing line, for example." said the WSJ.
Tom Chavez, Krux co-founder and chief executive, said the difference with Google or Facebook is that they don´t sell advertising, so they are an "independent personal data repository".
Krux said it plans to use the fresh investment funds for more salespeople and to bulk up resources that help customers get more value out of the service.