# Cinchy

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/cinchy

- Industry: Software
- Headquarters: Toronto, Canada
- Website: www.cinchy.com
- Total disclosed funding: $24M
- Latest round: Series B (Oct 27, 2022)
- Investors on record: 9

## About

Cinchy Inc., based in Canada, is a developer of a data collaboration platform that enhances real-time data sharing and integration, addressing challenges in traditional data management.Founded in 2014, Cinchy Inc. specializes in data collaboration solutions. The company is headquartered in Toronto, Canada, and is led by CEO Latif Ismail and co-founders Karanjot Jaswal and Paul Patterson. Cinchy has raised a total of CAD 2.0 mn through multiple investment rounds, with the most recent being a Series B round in October 2022, where they secured CAD 19.7 mn, led by Forgepoint Capital along with other investors. The company has not reported any significant pivots in its business strategy to date.Cinchy offers a comprehensive data collaboration platform that streamlines integration processes and facilitates real-time data sharing and analysis across organizations. The platform effectively tackles issues related to data silos and IT bottlenecks by enabling bi-directional data synchronization and built-in governance. With applications in supply chain management and customer insights, Cinchy caters to clients in various sectors, including financial services, with notable clients such as First Service Credit Union and Baronie. The platform is predominantly targeted at businesses in North America and Europe seeking effective data solutions.Cinchy operates on a subscription-based revenue model, where clients are charged for access to its data collaboration platform. This model supports B2B transactions, with varying pricing tiers based on the level of data integration services required. While specific pricing details are not publicly available, Cinchy’s services are essential for operational workflows, helping clients like First Service Credit Union enhance their data processes while ensuring compliance and security.Following its most recent funding round in October 2022, Cinchy Inc. plans to utilize the CAD 19.7 mn raised to expand its market presence. The company is focused on developing new products to enhance its platform and aims to penetrate additional markets. Specific regions targeted for expansion have not been disclosed, but efforts are expected to intensify as Cinchy continues to grow its footprint in the data collaboration space.

## Funding rounds

- Series B, Oct 27, 2022, $14M — Techstars, Information Venture Partners, Forgepoint, Scale Up Ventures
- Series A, May 26, 2020, $7.2M — Manulife Investment Management, BDC Capital, Techstars, Information Venture Partners, Scale Up Ventures
- Seed, Oct 9, 2018, $2.3M — BDC Capital, Techstars, MaRS Investment Accelerator Fund, Hedgewood, Scale Up Ventures, Blindspot Inc.
- Seed, Jan 26, 2018, $0.1M — Techstars

## Investors

- Techstars (https://capitalatlas.ai/funds/techstars) — Seed, Series A, Series B
- BDC Capital (https://capitalatlas.ai/funds/bdc-capital) — Seed, Series A
- MaRS Investment Accelerator Fund (https://capitalatlas.ai/funds/mars-investment-accelerator-fund) — Seed
- Hedgewood — Seed
- Scale Up Ventures (https://capitalatlas.ai/funds/scale-up-ventures) — Seed, Series A, Series B
- Blindspot Inc. — Seed
- Manulife Investment Management (https://capitalatlas.ai/funds/manulife-investment-management) — Series A
- Information Venture Partners (https://capitalatlas.ai/funds/information-venture-partners) — Series A, Series B
- Forgepoint (https://capitalatlas.ai/funds/forgepoint) — Series B