TORONTO, ON – June 25, 2020 - ThinkData Works, Inc. (@thinkdataworks) announced today that it has raised $8 million (CAD) in Series A financing led by BDC Capital Inc (BDC ICE Fund) and Yaletown Partners with participation by existing investors, First Ascent Ventures and Extreme Venture Partners.
ThinkData’s end-to-end data management platform, Namara, streams data from any source in the world – public or private – in any format and structure to allow organizations to use endless amounts of data to layer upon existing practices and fuel new business intelligence solutions.
“The ability to layer multiple data sources, both proprietary and public in a standardized structure allows rapid insights that impact the bottom line for all of our customers,” said Bryan Smith, Co-Founder and CEO of ThinkData. “As we continue to simplify the process to access product ready data for the enterprise, we have seen management realize the high cost and inefficiencies of the problems associated with data variety.”
ThinkData’s customer roster includes Royal Bank of Canada, the Government of Canada, Bank of Nova Scotia, TD Bank, and Roche Pharmaceuticals.
“For ThinkData to have won customers of such a high caliber and sophistication speaks to the quality of the platform and technology,” said Sean Brownlee, General Partner at BDC ICE Fund. “The fact that demand for their solution has only increased despite the concerns around the current economic uncertainty demonstrates the value the company can unlock for customers.”
First Ascent Ventures were an early investor in ThinkData. “We were very impressed with the founding team of Bryan Smith (CEO) and Brendan Stennett (CTO) and they have continued to innovate and deliver extraordinary value to customers with a high level of capital efficiency,” said Tony van Marken, Managing Partner of First Ascent Ventures.
ThinkData will use the latest funding to add new talent across Engineering, Sales and Marketing and expand globally. “Having supportive investors is paramount as an entrepreneur and First Ascent Ventures has been a valuable partner and mentor to the management team. We look forward to working with BDC and Yaletown, our new investors, as we scale the company and build a world class organization,” said Bryan Smith, Co-Founder and CEO of ThinkData.
McKenzie Foley, ThinkData Works Inc.
Marketing and Communications
About ThinkData Works
ThinkData Works, Inc. (ThinkData) is a Toronto-based tech company founded in 2014 that enables enterprise organizations to discover, govern, and monetize the data that powers your business. ThinkData offers a flexible enterprise data catalog designed to ensure data quality and regulatory compliance at every stage of the data lifecycle.
For more information visit: www.thinkdataworks.com Twitter: @thinkdataworks
First Ascent Ventures
First Ascent Ventures was formed in 2015 and invests primarily in Canadian technology companies that are building disruptive enterprise applications that leverage the power of the internet, big data, predictive analytics, machine learning and mobility. FAV has offices in Toronto, Ontario and Montreal, Quebec.
For more information visit www.firstascent.vc Twitter: @FirstAscent_VC
Extreme Venture Partners
VP is an early-stage technology venture capital firm focused on pre-seed & seed startups in the Toronto-Waterloo corridor. With three funds under management, EVP has achieved superior investment returns while helping launch and grow more than 100 companies and over 3,000 well-paying technology jobs in Canada.
More details can be found at https://evp.vc/
BDC Capital’s Industrial, Clean and Energy (ICE) Technology Venture Fund tailors its investments towards capital-efficient and scalable businesses enhancing resource productivity with the potential to operate across a global market. We invest in early and development stage Canadian companies, and use our experience in materials, electronics and ICT to build commercially successful global companies.
For more information visit www.bdc.ca
Yaletown Partners is dedicated to closing the emerging-growth stage investment gap faced by technology companies in Canada, and invests in technology companies that enhance industry and enterprise productivity and sustainability, to help accelerate their growth, shorten exit timeframes and achieve strong exit premiums. The fund has offices in Vancouver, Calgary, Montréal, and a growing presence in Toronto,
More details can be found at https://yaletown.com/