Expansion Funds for Enterprise Data Specialist Cinchy

Cinchy, whose platform unlocks data from enterprise apps and connects it in a universal data network, has raised $14.5m in a Series B round of funding, which it will use to expand both its team and its dataware (data warehouse) technology.

Toronto-based Cinchy helps clients to uncover data from their applications, databases and spreadsheets, and connect it within a network-based architecture that supports enterprise-wide data collaboration. According to the firm, its dataware addresses the root cause of data fragmentation and data silos, eliminates the need for costly and time-consuming data integration, and mitigates risks of data duplication.

New funding has been led by Forgepoint Capital, whose MD Leo Casusol will join Cinchy's Board of Directors. Dan DeMers (pictured), CEO and co-founder of Cinchy, comments: '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'.

Web site: www.cinchy.tv .