Fenway Summer Ventures Leads $4.2M Financing for XOR 09/16/2015Posted by Morse, Barnes-Brown Pendleton in Deal News.
Tags: fenway summer ventures, financial services, series A funding, XOR
Acting in concert with existing investors Chicago Ventures and KGC Capital, MBBP client Fenway Summer Ventures led a $4.2M Series A funding for XOR Data Exchange, the innovative Austin-based data exchange company. XOR CEO Mike Cook voiced his company’s gratification with the input of “strategic capital from a new industry … [with] deep…experience in the financial services and data analytics marketplace”, stating that the funding from these particular investors “will help elevate XOR’s game substantially.”
Alex Acree, Managing Director at Fenway Summer Ventures, said that XOR’s technology has the “potential to reshape how companies collaborate to increase efficiency and offer better service” , which is in keeping with the venture investment firm’s stated core principle that “products and services designed to earn consumer trust can be simultaneously profitable and sustainable.” XOR builds permission-based data exchanges which allow companies to share information while maintaining exceptional control over the data they choose to share.