Cribdata, a startup specialized in the analysis of data on the network to generate strategic information, has closed a round of financing of €155k led by FI Group, a consultancy specialized in advising companies in the management of R&D&I financing. BCombinator has also participated, this being the first investment from its second fund.
With this funding, Cribdata will be able to continue promoting its data processing model, a pioneer in giving users control over their information, which, in addition, as an innovation, makes it possible to develop more advanced and more precise AI systems.
Cribdata’s technology allows users to know which companies own their data and offers them the possibility of monetizing it, since they can share it with those companies that are interested in acquiring their activity anonymously. In this way, the startup analyzes the behavior of Internet users and acts as an intermediary that places the individual at the center of decisions, managing information in a private, precise and ethical manner.
Based in Barcelona, the company operates in the Spanish and Latin American markets, and is present in Spain, Peru and Chile. The founding team is made up of Ricardo Piiroja, Claudia Vera and Gonzalo Salazar. Thus, the company’s expected turnover is €50,000 for 2024.
Ricardo Piiroja, founding partner of Cribdata, highlighted: “Currently there is no system that allows personal information to be amortized online. We act as data collection agents, recovering and returning it to users, who can control and monetize it voluntarily and anonymously. In addition, we offer companies knowledge processed in a private and synthetic way, pioneering in cross-insights from different platforms and social networks, which translate into higher quality data.”
With the resources from this round of financing, the Cribdata team plans to increase its staff and expand its presence to new markets, focusing on southern Europe and Latin America – where it is already planned to land in Brazil and Mexico – as well as in the United States, where the first tests are already being carried out.
Cribdata’s technology facilitates the collection and recovery of this data, offering a detailed view of user behavior, such as the type of music they listen to when commuting to work, or the days when they make the most purchases.
Thus, Cribdata returns this information to the user and, anonymously and with constant control, makes it easier for them to know which companies would be interested in acquiring information related to their online activity, and monetizing it. In addition, users can request the removal of their data from the network if they so require.
This new methodology also implies a revolution in the AI market, which is constantly evolving, since until now its developers used public data to implement their systems, but in an environment that is advancing by leaps and bounds, AI programmers will be able to use this ethically acquired private data to drive new advanced and more precise systems.
Furthermore, the data processed by Cribdata has added value for data brokers, who will obtain clean and precise content, with cross-insights, providing a more detailed view of the behavior of their respective targets. In this way, companies will be able to make strategic decisions based on user data that has been provided ethically and voluntarily – and monetized during the process.
Read the orginal article: https://www.eu-startups.com/2024/10/barcelona-based-cribdata-raises-e155k-to-return-control-of-its-data-to-the-user-and-monetize-it/
