Cinchy Announces $14.5M Series B Funding
TORONTO, Oct. 27, 2022 — Cinchy, the pioneer of dataware technology and leader of data liberation, today announced a $14.5 million USD Series B financing round led by Forgepoint Capital. Forgepoint Managing Director Leo Casusol will join Cinchy’s Board of Directors, while Reynaldo Kirton comes on board as an advisor. 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 their 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.”
With Cinchy—a young company with customers ranging from TD Bank to Colliers International—businesses in every demographic can begin to eliminate their dependence on costly, time-consuming integrations and can establish fully autonomous data networks. Free from encumbrances and centrally accessible, Dataware delivers enhanced business intelligence and fosters faster time to market for business solutions.
“With every investment, we promote and support technologies that are designed to disrupt long-held business practices, and there’s no question that data-enabled collaboration needs exactly those foundational advances,” said Leo Casusol, Managing Director at Forgepoint Capital. “We’re already seeing the power and impact of Cinchy’s Dataware Platform in transforming and enhancing business practices for customers across industries, and the company is just getting started. We couldn’t be more excited to partner through their next phase of growth and all that’s ahead.”
“Cinchy is an incredible platform charting a new paradigm in the realization of value from data and changing the game for architecting and delivering data-centric solutions,” said Michael Dieckmann, CIO, Florida Polytechnic University.
About Forgepoint Capital
Forgepoint Capital is a leading cybersecurity venture capital firm that invests in transformative companies protecting the digital future. As the most active sector-focused firm in cybersecurity and infrastructure software, Forgepoint has the largest dedicated investment team and portfolio of over 40 companies. The firm brings over 100 years of proven company-building experience and its Advisory Council of more than 80 industry leaders to support entrepreneurs advancing innovation globally. Founded in 2015, Forgepoint is proud to partner with category-defining companies such as 1Kosmos, Area 1 Security (Cloudflare), Attivo Networks (SentinelOne), BehavioSec (RELX), Bishop Fox, Cysiv (Forescout), Huntress, IDX (ZFOX), Noname Security, NowSecure, ReversingLabs, Uptycs and more as they reach their market potential. Learn more at https://forgepointcap.com.
Cinchy is leading the liberation of data 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. For more information, visit cinchy.tv.