Data-as-a-Service provider XOR Data Exchange has added former FICO CEO Larry Rosenberger as an investor and board observer.
Mr. Rosenberger will assist with the development of data-driven fraud and credit risk mitigation.
In a release XOR said they look forward to accessing Mr. Rosenberger’s knowledge of data and analytical model implementation as they seek to grow. He joins along with Corazon Capital during a $2 million extension of XOR’s Series A round.
Founder and CEO Mike Cook said the funding is allocated toward a national expansion of the company’s fraud and risk models.
“Larry’s investment with XOR, both in funding and in expertise, reflect on the potential of our technologies to revolutionize the financial services industry,” Mr. Cook said. “His leadership at FICO changed the way banks and mortgage providers evaluate credit risk, and now his leadership at XOR will help do the same for fraud.”
During Mr. Rosenberger’s time at FICO their credit scores were made available to all three major U.S. credit reporting agencies and were adopted by Fannie Mae and Freddie Mac.