Caden, the first human-centered data company, has debuted the launch of its Open Data platform, which puts users firmly in the middle of the trillion-dollar personal data marketplace, empowering them to control their first-party data and make money from it.
The Caden platform has contemporized personal data gathering and measurement by placing privacy and consent first, and compensating users for fair use of their data.
Caden allows users to access data (like streaming and purchases) from various brands and add it to a secure “Vault” that the user owns and controls. After that, users who consent to share their data for advertising or other purposes can earn a portion of the revenue generated by the app. They can then opt-in to monetize their data in various ways, creating a passive income stream that never treads on their privacy.
Businesses can depend on Caden as an “ethically-sourced” first-party data provider, bringing the most accurate, robust, and actionable data streams to the open market via Caden’s proprietary Knowledge Graph platform, called CadenOS. Data can be consumed in anonymized/aggregated ways for alternative data buyers, organized by various Unique IDs for advertising tech, or made available on an identifiable basis for specific use cases. Of course, all of the above requires explicit opt-in consent from the user.
How Caden Works:
- Create an end-to-end encrypted vault to store your data on your own device.
- Connect your favorite apps and services like Amazon, Uber, Netflix, and more to store data in your vault.
- See fun and interesting insights about your habits while spending, streaming, exercising, and more.
- Earn points for consenting to share your data. You’ll be able to earn points for connecting accounts, surveys, and surprise bonuses. Redeem points for money and cash out directly to your qualifying card or bank account.
Historically, data provided by consumers, most often without informed consent, was at the heart of the rise in digital advertising. This value of this data is projected to be worth about $876 billion by 2026, according to Statista.
“Caden is solving a problem that has existed and grown over almost 30 years, so we see today’s launch as an important catalyst for the new privacy-first internet,” said John Roa, CEO and founder of Caden. “We have created the first data company built of core principles of user consent and control, allowing us to evolve key digital economies for the better, fundamentally.”
Caden recently raised an oversubscribed investment round led by Streamlined Ventures bringing the total funds raised to $9.4 million. Existing investors, including Yahoo! co-founder Jerry Yang’s AME Cloud Ventures and 1707 Capital, were joined by new investors Industry Ventures, Montage Ventures, Akuna Capital, and Lightning Capital, among others.
“Caden’s approach to creating incentives for both consumers and marketers is novel and creative,” said Yahoo! co-founder Jerry Yang. “They are making the user experience frictionless and being fully transparent with the user on reward and consent.”
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