DEMO.com > Cortera, Inc.

Cortera, Inc.

Conference: DEMOfall 09
Market Segment: Small Business Software and Services
Funding Amount: $25,000,001-$50,000,000
Funding Round: Series A
Funding Details: Fidelity Ventures, Battery Ventures, Garvin Hill Capital (formerly CIBC Capital)
Competitors: Dun & Bradstreet
Product Description: The Cortera Credit Exchange aspires to reinvent business credit reporting and improve the cash flow that fuels small businesses, which are the lifeblood of the economy. This online B2B service blends traditional credit data about companies with payment experience reviews from members of the Cortera community. The result is a community approach to credit reporting and a social response to the lessons of the recent economic crisis.
Market Opportunity: Research firm Outsell estimates the global credit and financial Information marketplace to be approximately $42 billion.
DEMO Says: Cortera has the potential to bring transparency -- and greater relevance -- to the credit ratings of small businesses. In the current economic environment, how businesses engage with their supply chain at all levels may be far a more relevant and timely indicator of risk than the information provided only by the major rating services. This well-backed company is a significant shift in this calcified yet critical corner of the financial services industry.