" ITREALMS: Cinchy clinches N6.4bn Series B funding led by Forgepoint - ITREALMS

Tuesday, November 01, 2022

Cinchy clinches N6.4bn Series B funding led by Forgepoint - ITREALMS

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The pioneer of dataware technology and leader of data liberation, Cinchy, has raised $14.5 million United States Dollars (USD), about N6,416,250,000 billion, in Series B financing, led by Forgepoint Capital, reports 
With this development, Forgepoint Managing Director Leo Casusol would join Cinchy’s Board of Directors, while Reynaldo Kirton comes on board as an advisor.

This investment, 
ITREALMS gathered, 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 reputed for 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,” he also said.

With Cinchy, a relatively 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,” Casusol said.

For the Chief Information Officer (CIO) Florida Polytechnic University, Michael Dieckmann, "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."

Nenye Dom/Editor

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