Cortera was founded on the premise that credit and financial departments needed better, more predictive information in order to protect their business’s assets. Our database, known as the Cortera Credit Exchange, began over 20 years ago in the transportation industry. Since then, we have reached impressive milestones bringing our information capture to over 10 million businesses and over $1.3 trillion in annual spend.
Data networks are difficult to create from scratch, so we started by acquiring eCredit (web-based workflow automated tool started in 1993) and TCE (transportation industry credit bureau started in 1995) in 2006. Our approach to disrupt the commercial credit industry starts with our data, where we have focused on defining ourselves through 3 major differentiators:
1. Aggressively building a bigger network of supplier-based information
Becoming a larger credit bureau
2. Industry-specific insights
Companies treat different types of suppliers differently, so we tell you what companies buy and how guys like you get paid
3. Purchase behavior insights
Company purchases are early indicators of future growth and risk, so we have created predictive scoring models that combine payment behavior with purchase behavior insights
Known spending in the Cortera Credit Exchange has increased more than 8x from less than $150 billion to $1.3 trillion in annual spend since 2006. Our spending capture has expanded from primarily transportation contributors to contributors across a wide array of industries. Coverage is now comparable to traditional industry leaders and improving every day.
- Volition Capital
- Battery Ventures
- Garvin Hill Partners
- Allen & Company
- Tomorrow Ventures