Cortera

What Cortera does

Cortera is a B2B trade credit and payment behavior data platform, founded in 1993 and headquartered in Boca Raton, Florida. The company maintains a global database covering 600M+ pre-scored companies, $3.7 trillion in biennial B2B transactions across 60M+ business locations and 45 industry categories, and a 20M-company industry monitor dataset powered by over $1.7 trillion in annual B2B transactions. Its core product architecture is a cloud-hosted trade credit data platform offering firmographics, corporate hierarchy and ownership, legal events, risk assessment scores, payment and purchase behavior, ESG/cyber/geopolitical emerging risk signals, and comparable financials, delivered through web platforms, APIs, proprietary CRM/ERP connectors, scheduled data feeds, and batch file appends. Named modules include Moody's Pulse (anonymized contributed A/R data converted into forward-looking payment risk insight), Industry Monitors (industry-level purchasing, payment, and financial trends), and Monthly US AR Trends; a new unified risk platform, Moody's Maxsight, was launched in February 2025.

Cortera generates revenue primarily through enterprise subscriptions to the trade credit database, with quote-based annual contracts sold via a sales-led motion that targets corporate credit and treasury teams, banking, insurance, buy-side asset management, and the public sector. Secondary revenue streams include API and data-feed licensing (usage-based and contracted), Industry Monitors and market-trends subscriptions, and data-monetization through the Moody's Pulse A/R contribution product. Distribution is hybrid: enterprise direct sales via "Request a Demo" for trade credit data, complemented by a self-serve developer API portal at start.cortera.com and public signup flow that enables product-led adoption. Pricing is not publicly disclosed; enterprise tiers are quote-based annual subscriptions while developer API access is usage-based under Moody's Analytics Terms of Service.

The company is a brand and product platform within Moody's Analytics, Inc., a subsidiary of Moody's Corporation (NYSE: MCO). Its URLs (start.cortera.com), login systems, Developer API, Industry Monitors, and Moody's Pulse products are all hosted under the Moody's Analytics umbrella, with Terms of Service and Privacy governed by moodys.com. Pre-acquisition, Cortera raised approximately $578M+ in growth and venture capital across rounds from 1999 through 2018, with investors including Battery Ventures, Hearst's Financial Venture Fund, TomorrowVentures, Volition Capital, Bain Capital, JPMorgan Partners, and Actua Corporation; the brand now operates as a flagship trade credit data offering inside Moody's broader capabilities stack.

Name

Cortera

Legal name

Moody's Analytics, Inc.

Website

https://cortera.com

Company type

Private

Founded year

1993

Operating status

Acquired

Headcount range

101–250 employees

Short description

Cortera is a B2B trade credit and payment behavior data platform covering 600M+ pre-scored companies globally, serving corporate credit and treasury teams, banking, insurance, asset management, and public-sector buyers through subscriptions, APIs, and embedded connectors. It now operates as a brand within Moody's Analytics.

Ownership category

akta.pro rank

Product category

Business Credit Data & Risk Analytics

NAICS

Credit Bureaus (561450), Securities and Commodity Contracts Intermediation and Brokerage (5231), Investment Banking and Securities Intermediation (523150)

SIC

Services-Consumer Credit Reporting, Collection Agencies (7320), Loan Brokers (6163)

akta.pro primary industry

ESG Data, Ratings & Climate Benchmarks (FSAFAIAI)

akta.pro secondary industries

Regulatory Reporting Hubs & Aggregators (Multi-Regime/Multi-Asset) (FSAFAJAF), Supply Chain (Scope 3) Emissions & Supplier Engagement Platforms (EUABAEAE)

Keywords

• Trade credit data
• Business credit risk
• Accounts receivable analytics
• Credit risk analytics
• B2B payment insights

Headquarters

HQ city

Boca Raton

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Infrastructure, Operations, Marketing or Sales

Revenue model

1. Trade Credit Data Subscriptions: Recurring subscription revenue from access to the Moody's/Cortera trade credit database, including firmographics, ownership, risk scores, payment behavior, and financials on 600M+ entities. Sold via demo/sales-led motion with tiered enterprise subscriptions.
2. API & Data Feed Licensing: Recurring and consumption-based revenue from licensing trade credit data via APIs, proprietary connectors, batch appends, and scheduled feeds for embedding into client CRM/ERP and analytical systems.
3. Industry Monitors & Market Trends Subscriptions: Subscription access to Industry Monitors and market trend analytics built on aggregated 20M+ company B2B transaction data, offering purchasing, payment, and AR trend alerts.
4. Moody's Pulse A/R Contribution Data Product: Derived data product monetizing anonymized contributed A/R data into forward-looking payment risk signals for credit teams.
5. Developer API Plans: Developer/API tier with sign-up and terms-of-service gating, supporting programmatic access for integration partners and developers building on the platform.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels5 records

Core offering

Cortera provides business-to-business trade credit and payment behavior data and insights on public and private companies. Operating as a brand within Moody's Analytics, the platform delivers credit risk analytics, accounts-receivable-derived forward-looking payment risk signals, industry payment trend monitors, and corporate hierarchy/ownership data covering 600+ million entities globally, accessible via web platforms, APIs, bulk feeds, and proprietary CRM/ERP connectors.

Product overview

Cortera (now operating under Moody's) delivers trade credit and trade risk data as a platform-plus-modules architecture. The core Trade Credit Data platform covers 600+ million entities across firmographics, ownership, legal, risk assessment, payment/purchase, emerging risk, and financial data. Built on top of it are named modules — Moody's Pulse (forward-looking payment risk insight from contributed A/R data), Industry Monitors (purchasing/payment/financial trends across industries), and Monthly US AR Trends — together with a Developer API and data-feed delivery channel, and the broader Moody's Maxsight unified risk platform that extends the data ecosystem into third-party, supply chain, and compliance risk use cases with embedded agentic AI.

Differentiator

Problem solved

Functional benefit

Products and services

• Trade Credit Data Platform Core data solution providing credit insights on 600+ million pre-scored companies globally, covering firmographics, ownership, legal events, risk assessment, payment and purchase data, emerging risk scores, and financials, deliverable via web products, APIs, bulk feeds, or proprietary CRM/ERP connectors.
• Moody's Pulse Module that turns anonymized, contributed accounts receivable data into forward-looking payment risk insight, helping credit teams spot critical changes in customer financial health and find data on private companies.
• Industry Monitors Tool offering extensive insight into key purchasing, payment, and financial trends across major industries, drawing from data on over 20 million companies and over $1.7 trillion in annual B2B transactions.
• Monthly US Accounts Receivable (AR) Trends Market-trends view providing average days beyond term, AR debt by state, and AR debt by industry across the US market.
• Moody's Maxsight Unified risk platform launched in February 2025 to help businesses decode risk and unlock opportunity across third-party relationships, supply chains, and compliance processes enterprise-wide, with embedded agentic AI capabilities.
• Developer API Partner-facing API providing direct, programmable access to the trade credit database, with real-time data updates, plus supporting delivery channels including data feeds, batch file appends, and proprietary CRM/ERP connectors.

Quantifiable outcome

• Covers 600+ million pre-scored companies globally with harmonized risk scores
• +2 more outcomes

Named customers3 records

Segments5 records

Ideal customer profiles6 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

AI capability4 records

Feature6 records

Partnerships

Two partnerships are on record, tiered flagship and core.

• Moody's AnalyticsflagshipStrategic or Co-development PartnerMoody's Analytics is the parent platform that hosts the Cortera-branded trade credit solutions at start.cortera.com. The Cortera login, developer API, Industry Monitors, Market Trends, and Moody's Pulse products all sit under Moody's Analytics, with Terms of Service and Privacy governed by moodys.com. Trade credit data is offered as part of Moody's broader capabilities for banking, insurance, buy-side, corporations, and public sector.
• Moody's Analytics (Legal/Compliance)coreOthersTerms and Conditions and Privacy policies for the Cortera platform (start.cortera.com) are linked directly to moodys.com, indicating that Cortera operates under Moody's Analytics' legal, terms, and data governance framework.

Scale indicators5 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Dun & Bradstreet: The category leader in global B2B commercial data and trade credit intelligence, offering the DUNS identifier, PAYEX/PAYDEX scores, and a 500M+ company database. Direct overlap with Cortera's trade credit data, risk scores, and corporate hierarchy offerings across banking, corporate, and public-sector buyers.
• Bureau van Dijk (Moody's): Sister brand under Moody's Analytics offering the Orbys platform with global B2B entity data, beneficial ownership, and corporate hierarchies. Closest functional peer — both operate within Moody's and target similar banking, corporate, and public-sector credit risk use cases, raising internal cannibalization risk.
• Allianz Trade (Euler Hermes): World's largest trade credit insurer, collecting granular B2B payment data to underwrite credit limits for corporates. The underlying credit intelligence database is a direct functional peer to Cortera's trade credit data, and Allianz Trade increasingly sells data and risk analytics independently of insurance.
• Coface: Global trade credit insurer with a proprietary business information database covering 80M+ companies and Debtor Risk Assessments. Direct overlap with Cortera on payment behavior data, credit scoring, and corporate buyer intelligence, particularly in Europe and emerging markets.
• Creditsafe: Private-company-focused business credit reporting provider covering 400M+ companies globally, with deep SME and mid-market reach. Direct competitor to Cortera in trade credit data subscriptions and APIs, often competing on price in the mid-market segment.

Broad incumbents

• Experian Business: Major credit bureau with a Business Information division providing commercial credit reports, Intelliscore Plus, and portfolio risk analytics on 400M+ businesses. Overlaps with Cortera on credit risk scores, firmographics, and payment data, but serves a much broader consumer and consumer-credit book.
• Equifax Business: Equifax's commercial division delivers business credit reports, Payment Index, and Financial Stability Risk Scores on 30M+ US businesses. Overlaps with Cortera on US trade credit decisioning, but Equifax is a consumer-credit-first incumbent that bundles commercial data into a wider bureau offering.
• S&P Global Market Intelligence: Provides reference data, counterparty risk, and corporate hierarchy data (Capital IQ Pro, S&P Credit Intelligence) to banking, asset management, and corporate treasury buyers. Overlaps with Cortera on credit risk scores, ownership data, and financial fundamentals, but is portfolio-analytics-led rather than trade-credit-led.
• LSEG (Refinitiv) Data & Analytics: London Stock Exchange Group (post-Refinitiv acquisition) provides World-Check, reference data, and risk intelligence to banking and capital-markets clients. Overlaps with Cortera on entity reference data, ownership hierarchies, and risk scores, but is primarily a financial-markets data incumbent.

Emerging players

• HighRadius: Cloud-based autonomous finance platform for order-to-cash and treasury workflows, embedding credit risk decisioning into A/R automation. Threatens to disintermediate standalone trade credit data by making credit scoring an upstream ERP-native function.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/Cortera
• YouTubeyoutube.com/channel/UCyWqT8lrGbRqWa30c_l5iSw
• LinkedInlinkedin.com/company/cortera-inc.
• Instagraminstagram.com/moodyscorporation/?hl=en
• Facebookfacebook.com/CorteraRocks

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds12 records

Investors21 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cortera