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For decades, enterprises have followed the practice of maintaining separate data stores for different applications (like AI and analytics) and leveraging data integrations – such as APIs, ETLs and reconciliations – to let apps interact with data limited to their counterparts.
These integrations seamlessly copy the information to enable access. But, as the volume of data and the number of applications continues to grow, managing the integrations is becoming a challenge. Each app can have multiple integrations, which can easily hit IT budgets and create complications around privacy and governance. Not to mention, different versions of data also add to the confusion.
Data collaboration > data integration
To address this problem of fragmentation and costly data integration, Toronto-based Cinchy offers a “dataware” platform. The company today announced it has raised $14.5 million in a series B round of funding.
Claimed to be the next tech revolution following hardware and software, Cinchy’s dataware enables collaboration with data instead of duplication. This basically means instead of keeping app data siloed and then using integrations to copy it for other apps, the platform allows apps to collaborate directly on the original data in real time by connecting it from all ends within a universal network-based architecture. It is pretty similar to how Google eliminated file copying with Drive and provides apps with instant visibility into data for faster time to market.
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