About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

Tractiv Raises $2.25 Million to Build Out Data Tracking Solution

Subscribe to our newsletter

Chicago-based data usage monitoring and tracking specialist Tractiv, formerly known as TradeX, has raised $2.25 million in seed funding to expand its engineering and sales teams. At the same time, the company has added Mark Almeida to its board of directors. Almeida is Limited Partner Advisor at Nyca Partners – which led the funding round – and is a former president of Moody’s Analytics.

Founded in spring 2020, Tractiv aims to help data suppliers track usage of their services within client organisations, affording them greater control over their intellectual property and commercial licensing arrangements. Its cloud-native solution can be integrated with data vendor solutions to provide immutable distribution and tracking to show how data is used internally at a client site or after it leaves a vendor’s environment.

The Tractiv solution operates in a similar way to blockchain or distributed ledger technology (DLT), providing secure, low-latency data transmission with instant reporting and analytics of usage, as well as transparency with no restrictions on data type or size. Says Tractiv CEO Drew Orsinger: “This solution provides quick, low-cost and direct access to data usage forensics, and can be up and running in hours. Tractiv solves a universal challenge in how data vendors distribute, track, and trace their data once a partner starts using it.”

Almeida adds: “Tractiv’s ledgering technology enables information sources to gain control over distribution and fully realise the value of their content. Providing transparency into data usage brings efficiency to the enforcement of content licensing agreements, allowing organisations to safeguard their IP while unlocking new monetisation opportunities.”

Tom Glocer, former CEO of Thomson Reuters and Tractiv investor says: “During my 19 years at Reuters we searched high and low for a technology solution that could support the largescale distribution of real-time and static content with granular permissioning, full audit trail and low latency. The Tractiv platform offers multimedia publishers the ability to achieve full value for their content by ensuring their service only reaches entitled customers.”

Tractiv’s primary customers are fintechs, major banks and wealth management firms looking for a more accurate understanding of data usage for business intelligence, compliance, and security. By having immediate insights into how data is being used via a centralised and immutable ledger, financial institutions can make more informed and timely decisions about how to maximise the value of the data. While Tractiv is looking initially to address the reference data ecosystem, its platform works to increase the value of any proprietary data or show compliance with license agreements and regulatory schemas.

Subscribe to our newsletter

Related content

WEBINAR

Upcoming Webinar: In data we trust – How to ensure high quality data to power AI

13 March 2025 11:00am ET | 3:00pm London | 4:00pm CET Duration: 50 Minutes Artificial intelligence is increasingly powering financial institutions’ processes and workflows, encompassing all parts of the enterprise from front-office to the back-office. As organisations seek to gain a competitive edge, they are trialling the technology in variety of ways to streamline and...

BLOG

Wand.ai Software Update Seeks to Democratise Use of AI

Software developer Wand.ai has rolled out an enhanced version of its artificial intelligence (AI)-based platform that’s aimed at enabling even the least tech-savvy operator to harness the benefits of machine learning and generative AI (GenAI). The updated version of the collaborative multi-agent software adds broader agent capabilities and updates the user interface. Wand.ai co-founder Philippe...

EVENT

RegTech Summit New York

Now in its 9th year, the RegTech Summit in New York will bring together the RegTech ecosystem to explore how the North American capital markets financial industry can leverage technology to drive innovation, cut costs and support regulatory change.

GUIDE

Regulatory Data Handbook 2024 – Twelfth Edition

Welcome to the twelfth edition of A-Team Group’s Regulatory Data Handbook, a unique and useful guide to capital markets regulation, regulatory change and the data and data management requirements of compliance. The handbook covers regulation in Europe, the UK, US and Asia-Pacific. This edition of the handbook includes a detailed review of acts, plans and...