Cinchy

About Cinchy

Cinchy operates on a foundational premise: to shift the enterprise world from an application-centric to a data-centric model, thereby eliminating the persistent challenge of data integration. Founded in Toronto in 2014 by Dan DeMers and Karanjot Jaswal, the company was born from their direct experiences within major global financial institutions. DeMers, the CEO, and Jaswal, the CTO, spent nearly a decade in enterprise technology roles at firms like RBC and Citi, where they witnessed firsthand that a significant portion of IT budgets and effort was consumed by the endless cycle of integrating data between siloed applications.

The company's core offering is the Cinchy Dataware Platform, a technology designed to function as a unified data network for the enterprise. Instead of applications owning and siloing data in separate databases, the platform liberates data, allowing it to be managed as a single, secure network. This architecture enables different systems and users to collaborate on the same data in real-time without creating multiple copies. The business model is centered on providing this platform to large and mid-sized enterprises, particularly in data-intensive sectors like financial services, healthcare, and manufacturing. Revenue is generated through subscriptions to the Dataware platform, with pricing often tiered based on usage and features. Clients include prominent names such as TD Bank, Colliers International, and various credit unions.

The Cinchy Dataware Platform's main benefit is the radical reduction in time and cost associated with developing new solutions and managing data. By treating data as a network, it bypasses the need for traditional point-to-point integration projects whenever a new application is introduced or modified. Key features include autonomous data management, where data is decoupled from applications; a universal data browser that allows non-technical users to interact with and manage data; and granular, cell-level security controls that persist with the data itself, regardless of how it's accessed. This approach not only accelerates digital transformation projects but also enhances data governance and security by creating a single source of truth and a comprehensive audit trail of all data changes. The company has secured significant funding, including a $10 million Series A round in 2020 and a $14.5 million Series B in 2022, to fuel its expansion and further develop its platform.