Here’s something a little different: Commerce Signals posted on Crunchbase that it is raising a Series B round, slated to close in April 2017. The startup founded by Tom Noyes has already raised $4 million, according to the database.
Crunchbase is commonly used as the funding-resource-of record. AngelList is the more typical spot for founders to publicize funding needs. According to Alex Wilhelm, editor in chief at Crunchbase, this is the only time he is aware of that a founder has used his site this way. “This is out of the ordinary,” he wrote in an email. The announcement had been posted in November 2016.
In a brief interview, Noyes noted that he is fortunate to be able to attract investors and that he was “achieving his objectives” by posting the anticipated funding on Crunchbase. Noyes says he is in “a race to grow the network” at Commerce Signals. His goal is to be the “Google index of the world’s private data for the benefit of the owner.” He declined to say why he chose Crunchbase to announce the Series B; he also declined to state the expected amount to be raised.
Commerce Signals, based in Charlotte, N.C., aims to help private companies benefit from the power of their data while also providing the framework to understand the data to users. It powers Databridge, which enables “data owners to commercialize their insights.” Among the data providers are banks, mobile operators, and retailers, according to Noyes’s LinkedIn profile which says the company will “rewire commerce.”
Last November, Databridge launched a relationship with PlaceIQ, a location intelligence company, to provide foot traffic information along with actual sales to shed light on the impact of advertising campaigns within days — a process that once took weeks. Commerce Signals also announced in January that it has forged a relationship with AdTheorent, which provides “data driven predictive solutions” for advertisers.
Noyes was a partner until 2015 at Starpoint LLP, which works with early stage companies, and also held senior positions at Citigroup and Wachovia (now part of Wells Fargo).