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Cinchy helps healthcare and financial service industries accelerate response to COVID-19


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Cinchy helps healthcare and financial service industries accelerate response to COVID-19

DMZ alumnus, Cinchy, is using Data Fabric technology to help Canadian banking and healthcare sectors unlock IT efficiencies and address the immediate impacts of COVID-19

Congratulations to the company on their recent announcement of securing $10M in Series A funding to support growing demand for Data Fabric Technology!

Cinchy’s Data Fabric technology is being used to unlock efficiencies so that banks and healthcare providers can deploy real-time solutions with existing or even reduced IT budgets. How can the tech community and public sector work together to accelerate the delivery of new customer and employee solutions without compromising on data privacy? Keep reading to find out.

More applications mean more data silos

Today, there’s an app for everything – meaning there’s also a data silo for everything. Do you ever feel like your business is drowning in complexity? The proliferation of new applications poses huge problems for organizations of all kinds, across all sectors. As explained by Cinchy CEO, Dan DeMers, data integration can easily consume 50% or more of the delivery budget for new solutions. In an IT model where we are constantly doing this, data integration grows more and more complex over time, and this simply isn’t sustainable for organizations. It’s a waste of time and money.

How data should work

So, how does Cinchy’s technology solve this issue for organizations? Cinchy believes there is an inevitable future about how data should work, and it involves shifting to Data Fabric technology.

Cinchy is an enterprise-grade Data Collaboration platform that merges data management, data protection, and data governance capabilities under one umbrella. It is Data Fabric technology that delivers the data management layer, and it is used to connect data from apps, as well as new data created directly in the fabric, to form a sort of internet of data tables. One of the key benefits of this architecture is that it removes the need to make data copies (a.k.a. integrations) when launching new solutions. Instead, data is “linked”, and this process actually gets faster and more efficient as the fabric powers more solutions. Think of the Data Fabric as generating a network effect for IT delivery where more projects translate into faster and cheaper delivery, not rising costs and complexity.

Why has Data Fabric been gaining so much traction recently? The reason is that organizational leaders are being asked to deliver solutions faster than ever before without being given additional budget or headcount. Therefore, they have been searching to find technologies that increase both speed and efficiency while not putting data privacy and protection at risk. As you might guess, the list of software categories capable of delivering all of these outcomes is short; Data Fabric technology has quickly risen to the top of the list.

Connect, protect, collaborate

Society is moving to a future where data owners, whether individuals or businesses, will demand more control over how their data is used. With conventional approaches, data is effectively managed by making a lot of copies, and, once copied, full control is simply no longer possible. All this changes with Cinchy’s Data Fabric design, where data owners (whether employees, customers, or supply chain partners) are able to grant access permission to fellow fabric users to see, change, approve or delete their data. With no copies of data to chase and protect, these controls become universal in nature and can be set all the way down to a single cell of data.

For large, highly-regulated organizations, the fabric acts as the secure, real-time engine for the delivery of unlimited new solutions with embedded data protection. Again, this not only enables secure, cross-team collaborations but actually accelerates and improves the organization’s IT delivery process. That’s the way it should be.

COVID-19: making a difference across industries in the months to come

During this time, organizations need to meet the sudden demand from employees and customers for new solutions to their needs. In the new COVID-19 world, it’s important that organizations not only address these demands quickly but find ways to do so that are hyper-efficient. For Cinchy’s enterprise and public sector customers, their platform supports this incredible challenge and even provides a competitive advantage when business returns to a focus on growth.

Helping Canada’s financial sector do more with less

All areas of financial services heavily rely on data as a key asset in the delivery of their digital transformation strategies: from paperless banking and accelerated loan approvals to remote staff management and increased service personalization.

There is now more data, and more types of data, than ever – making it more difficult to manage. This is where Data Fabric technology will play a key role in helping the financial sector respond quickly to new demands from customers and employees alike. Banks will need to harness data in the most effective way possible to accelerate the delivery of new solutions for remote workers, secure office spaces, and the and fully-digitized customer experiences. Canadian banks can leverage Cinchy and reap the benefits of its Data Fabric design to achieve data centricity and accurate data extraction for successful decision-making. Data Fabric will be the answer to helping the economy bounce back.

Powering secure, real-time healthcare solutions

The ongoing healthcare crisis raises important questions about the use of personally identifying information (PII). For example, should citizen GPS and Bluetooth location data be used to help augment contact tracers in their incredibly important work to track viral transmission and reduce spread? How can the technology community and public sector work together to respond to the current situation and help society be more proactive when addressing future outbreaks?

COVID-19 has highlighted the need for public health agencies to move beyond legacy data management systems based on Data Sharing/Data Integration and explore new approaches such as Data Fabric technology that improve data protection and IT solutions delivery. These new approaches will support the rapid delivery of large scale solutions ranging from augmented contact tracing to intelligent PPE inventory management, front-line worker support, and secure vaccine research collaborations.

Click image to see expanded infographic.

Cinchy’s Healthcare Data Command Centre solution uses Data Collaboration and Data Fabric technologies to help healthcare providers leverage data from sources like legacy healthcare systems, hospital apps and databases, mobile phone apps, laboratory research, third party PPE inventory systems and more. By drawing this data into a central, secure Command Centre where owners retain full control of how their data is used, public health agencies can quickly develop the data models required to deploy the real-time solutions that are so urgently needed in order to address the crisis.

Cinchy believes that it is imperative that public and private stakeholders join forces in order to take advantage of connected Data Fabric design – a made-in-Canada innovation that can be used to help address a global problem without compromising on data privacy or data protection.

Interested in learning how your organization can benefit from Cinchy’s platform? Reach out to the Cinchy team and book a demo here.

DMZ extending a hand to OneEleven based businesses  

Like you, we were saddened to hear yesterday’s news regarding OneEleven’s closure. 

OneEleven has always been a close partner of the DMZ. As an organization, OneEleven helped pave the way for many great startups in this country, and their closure represents a significant loss to Canada’s tech ecosystem.

The DMZ’s priority is to support made in Canada startups. Although this is a challenging time for incubator and accelerator programs, we want to reaffirm to our community that the DMZ is here to stay.

We understand this is a pivotal time for many startups and we’re committed to providing founders from OneEleven with uninterrupted support. So, here’s what we’re doing starting today:

  • Without any need to apply, founders can receive three complimentary mentorship sessions covering any area of business needed from our esteemed entrepreneurs-in-residence and DMZ staff 
  • Should you decide to apply to the DMZ, your application will be expedited
  • If accepted, we will waive fees for the next two months and provide access to all DMZ services. This includes coaching, capital, customers, community and of course, space once offices open back up

Learn more about our program from our founders here. And to learn more about what this could mean for your business, please reach out to Rob from our team. 

We thank OneEleven for all they have done to champion Toronto’s startup community. We hope the team at OneEleven looks back at the great impact they have made in bringing our city’s talent to the global stage.



DMZWiT: Balance for Better

Today we celebrate women – their strengths, their achievements, their voices.

Women are changing every industry, every political stage and are continuously fighting to create a more gender-balanced world. That said, we make it our everyday mission to champion inclusion, equity and equality. We want to challenge current problematic business norms and help improve the issues women continue to face when it comes to funding, equal pay and professional development.

Our signature Women in Tech speaker series provides a platform for meaningful conversations about what our female entrepreneurs face in their day to day and the necessary steps we need to take as a collective.

Our most recent panel, in partnership with PayPal Canada, featured Althea Wishloff, a Venture Analyst at Panache Ventures, Jamie Rosenblatt, Principal of Golden Ventures, Snita Balsara, Investment Manager at MaRS Discovery District and Investment Manager at StandUP Ventures and moderated by Nancy Sahota, Head of Consumer Segment at PayPal Canada. The discussion was centred around how women can navigate and secure equal funding, how to truly manage work-life balance and how the tech ecosystem can improve their problem with gender parity.

Supporting women is built into our culture, and we’re proud to provide a space for all of our entrepreneurs to connect and support one another. We’re dedicated to delivering on our values – equity over everything and founders first – and look forward to continuing the conversation around equality in business and entrepreneurship.

Happy International Women’s Day to you, your mother’s, sisters, caretakers, colleagues, mentors and every woman who gives you unconditional support!


Streamlining patient care with Manny Abraham

Doctors depend on a wide array of systems to provide patient care.

There’s just one problem: none of the them properly talk to each other.

That’s why Manny Abraham created Orbcare Inc., a platform that merges the information doctors use and patients provide, making sense of it all to streamline patient care.

All sorts of similar pain points exist in the medical field and, Abrahams, with over twenty years of experience in the sector, joins BusinessCast host Robert Gold to dive into the exciting fusion of innovation and medicine.

Biotech and healthcare startups are some of the fastest-growing in the world of technology. Investors of every sort are hoping to take a slice of the pie, so much so that healthcare and biotech companies raised over $28 billion in 2018, according to PitchBook.

Abrahams takes us through why it’s such an exciting time for innovation in healthcare and why Canada is uniquely placed to be a major player in the sector.

Expect all that and more in this edition of the BusinessCast Podcast powered by The DMZ.

DMZ Raise Roundup

$4.6 billion. That’s how much Canadian tech companies raised in VC funding in 2018. A record for our country’s thriving sector.

With 2019 well underway, we are already seeing a trail of impressive raises. This week, DMZ startups got a boost with a number of rounds. Here’s the latest on who raised how much, and from whom.

Roofr lands a $4 million seed round

After completing the Y Combinator program, Roofr, a new type of roofing service that uses aerial imagery to provide customers with a free roofing estimate online, announced it raised $4 million led by CrossLink Capital and a line of angel investors.

Currently serving the Bay Area, the entire state of Florida and the province of Ontario, the company plans to use the funding to expand its reach to new marketplaces and has its eyes on the state of Texas. The company will also be growing its engineering, sales and marketing teams.

Photo: Kevin Redman (CTO, Roofr) & Richard Nelson (CEO, Roofr)

NXM raises $7.7 million

NXM Labs Inc., an autonomous security and data integrity company, announced the close of its $CAD7.5 million pre-series A funding led by Cedarpoint investments Inc.

With the IoT industry on track to be one of the fastest moving technology sectors in history, this financing comes at the perfect time. The company will commercialize their award-winning NXM SecureSuite software platform that enables connected devices and systems to manage their own security in order to continue to ward off hackers.

EnergyX raises for further expansion in the U.S.

EnergyX Solutions, an online energy auditing platform, has raised $500,000 from MaRS Investment Accelerator Fund following a $1.3 million raise in August 2018.

Already working with companies like Enbridge, Gas Distribution and CLEAResult, the Toronto-based startup is putting their money towards further expansion in the U.S. where there is a larger market to tap into.

Photo: EnergyX Team @ the DMZ

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