Leading investment crowdfunding platform OurCrowd has registered its 6th successful exit as portfolio company Crosswise has been purchased by Oracle. The transaction was revealed in Israeli media on April 15th revealing that Oracle paid $50 million for the “machine learning based cross-device data” company. The transaction closed on April 14th. OurCrowd, and its registered investors, participated in a Series A funding round that provided $670,392 to the young company. Co-investors on the funding round included Giza Venture Capital, Horizons Ventures and a “high profile angel group.”
Oracle commented on the acquisition explaining that Oracle Data Cloud was the fastest growing global data as a service business. The addition of Crosswise would further broaden the “Oracle ID Graph” to construct a complete view of consumers digital interactions across multiple devices.
Omar Tawakol, SVP and GM of Oracle Data Cloud said;
“Crosswise’s innovative technology processes over one petabyte of user and device activity data from billions of unique devices every month. By applying advanced data science and proprietary machine-learning techniques to this data, Crosswise constructs a new probabilistic Device Map matching multiple devices to individual users in an accurate, scalable and high quality manner … The Crosswise team brings significant knowledge and a rich pedigree of data science to Oracle and will further extend the value Oracle Data Cloud brings to the market and to its customers.”
OurCrowd was created by entrepreneur and investor Jon Medved. The platform provides access to highly vetted investments beginning at a relatively small amount of $10,000 for accredited investors. Over $200 million has been raised via the global platform having funded over 90 different companies (out of more than 4000 reviewed). OurCrowd invests its own capital in every single listed company.