Cinchy bags $10m in its Series A financing round

Data collaboration company Cinchy has bagged $10m in its Series A financing round which was led by Information Venture Partners.

Additional contributions came from BDC, ScaleUp Ventures, Techstars, and Manulife Investment Management.

To help meet the demand of its platform, the company is expanding its partner ecosystem.

Cinchy is an autonomous data fabric which manages data as a network to help companies better leverage their data. The data-as-a-network platform is designed to think like a brain, which it claims enables it to remove copies, reduce build times and inherently protects privacy.

Its services include data mastering, data governance, 360 customer views, advanced analytics, automation, service personalisation and enhanced customer experience.

The platform aims to boost data management and data protection.

Cinchy co-founder and CEO Dan DeMers said, “COVID is a once-in-a-century event that requires businesses everywhere to accelerate digital transformation while simultaneously reducing spending.

“Companies are quick to adopt Cinchy once they realize their competitors are doubling the productivity of their existing IT workforce simply by using our Data Fabric as the foundation for new systems development.”

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