Irvine, Calif. — BlueCava, a startup company that develops technology enabling businesses to identify unique connected devices such as TVs, smartphones and computers, announced Friday that they have raised $1.5 million in a new round of funding led by billionaire Mark Cuban. The company’s total investment funds are now $65 million.
Cuban, along with Tim Headington, previously backed the company in 2010 when BlueCava raised $5 million in a Series A round.
The company claims their technology can individually identify the 10 billion Internet-connected devices on the planet, TechCrunch reported. These identifiers can be used for targeting advertising, as well as other applications like allowing or blocking permissions based on criteria such as device’s ownership and usage patterns. BlueCava gives the example of a device that was used for multiple fraudulent transactions being prevented from making additional transactions.
BlueCava advisory board members include Joe Sullivan, chief security officer at Facebook and Ellen Moskowitz, vice president of fraud management solutions at MasterCard.