Cinchy, a Toronto, Canada-based pioneer of Dataware technology and leader of data liberation, announced that it raised $14.5 million in a Series B financing round led by Forgepoint Capital.
This investment allows Cinchy to further capitalize on the surge in global demand for data fabric and data mesh solutions that help free the enterprise from unruly application ecosystems and regain greater control of its data.
Cinchy, which enables instant visibility into organizational data, offers an out-of-the-box solution that provides immediate time to value by turning abstract data concepts into actual live Dataware deployments.
"Our mission is to liberate and harness the power of data, giving it back to teams and organizations to accelerate digital transformation and growth," said Dan DeMers, CEO and co-founder of Cinchy. "We're thrilled to partner with the team at Forgepoint Capital, which uniquely appreciates the importance of data layer controls and the enablement of data autonomy. This latest round of funding helps us expand our team and release new offerings that include pre-built Dataware solutions designed to help organizations instantly liberate both trapped data and siloed SaaS applications."
Forgepoint Managing Director Leo Casusol will join Cinchy's Board of Directors, while Reynaldo Kirton will come on board as an advisor.
Company: Cinchy Inc.
Round: Series B
Funding Month: October 2022
Lead Investors: Forgepoint Capital
Company Website: https://cinchy.com/
Software Category: Dataware Platform
About the Company: Cinchy is leading data liberation by enabling organizations to free it from their applications, databases, and spreadsheets and connect it within a network-based architecture that supports enterprise-wide data collaboration. Leading companies, including TD Bank, AIS, Ally Bank, and the YMCA, leverage the Cinchy Dataware Platform to eliminate the cost and delay of data integration from digital transformation projects, extend the ROI of legacy systems and SaaS solutions, automate data protection, and empower business teams with secure data self-service for data enrichment and the creation of actionable intelligence. Cinchy has been named a "Company to Watch" in the Deloitte Technology Fast 50, a "Top Pick" at TechCrunch Disrupt, and a top 15 data fabric provider in the Forrester Wave™: Enterprise Data Fabric, Q2 2022 report.