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BlueCava Accelerates Business with $5 Million Investment Round Led by Billionaire Entrepreneur Mark Cuban
Oct 18, 2010 (02:10 PM EDT)
Series A round of funding was oversubscribed by more than 500%, as investors race to invest in BlueCava's Device Identification and Reputation Services business
IRVINE, Calif., Oct. 18 /PRNewswire/ -- BlueCava (www.bluecava.com), the credit bureau for devices, today announced the closing of a $5 million round of series A funding, which included two billionaire entrepreneurs - Mark Cuban and Tim Headington. BlueCava will use the funding to accelerate the growth and global expansion of its device identification and reputation technology.
This round of funding was oversubscribed by more than 500%, causing BlueCava to close the round early, leaving some eager investors waiting to participate in a future round of funding. In an unusual move, Mark Cuban, a prolific investor, will take an active roll in BlueCava, by joining the board of directors.
"BlueCava has created some very innovative technology and has a disruptive business model that will re-define the role that devices play in targeted online marketing and in fighting online fraud," said Mark Cuban. "BlueCava has a huge market opportunity and I am excited to be joining the board."
"We are very excited to add two all-star business people and visionaries to our team," said David Norris, CEO of BlueCava. "It is a strong validation of our business and will help to accelerate BlueCava's growth and extend our market leadership position. It's clear they really understand BlueCava's market opportunity and our disruptive business model."
BlueCava's Device Identification and Reputation Services is a technology platform that offers companies a highly-practical and economically-viable method for device identification and reputation processing. The technology works with any computing device (PCs, smartphones, video game consoles and set-top boxes), anywhere in the world, so that businesses can detect, identify and track devices within their own environments.
As part of BlueCava's disruptive business model, it has reinvented the pricing structure for these types of services, which allows them to be used more broadly and more frequently. BlueCava charges $.0001 (1/100th of a cent) per device identification transaction, and $.001 (1/10th of a cent) per device reputation transaction. This represents nearly a 500x cost reduction compared to historical industry averages.
Mark Cuban is chairman of HDTV cable network HDNet, owner of the National Basketball Association's Dallas Mavericks, owner of Landmark Theatres, and author of Blog Maverick, a popular business blog for entrepreneurs.
Timothy Headington is founder and owner of privately-held oil and gas firm Headington Oil Co. LLC, a hotelier and film producer.
With the investment, Mr. Cuban will join BlueCava's Board of Directors.
BlueCava is the credit bureau for devices, providing information about good, bad, and historical activities conducted from desktop and mobile devices. Our reputation data fights fraud and improves online communications. Using a low priced, disruptive business model, BlueCava allows all customers the chance to identify any online device, retrieve valuable history about it and use our technology for every transaction.
Our innovative Device Reputation Exchange lets businesses share information about fraudulent, good, and useful transactions from recognized computers, enabling decisions regarding doing business, or not, with any specific computer.