Yaletown Invests in Leading Data Management Company ThinkData Works
TORONTO, June 26, 2020 /CNW Telbec/ - Yaletown Partners is pleased to announce its participation in ThinkData Works $8 million Series A financing to accelerate the growth of the company. Toronto based ThinkData Works is a leading data management company that is solving the data variety problem for data scientists.
ThinkData Works enables data scientists to process pools of data and combine them with publicly available data, allowing for better analytics resulting in efficient decision making and actionable outcomes for enterprise customers.
"ThinkData Works' solutions allows data scientists to have access to clean and actionable data. It lets them pull together clean data from different sources and garner insights from a combined pool where the sum is far greater than the parts." said Michael Sfalcin, Principal, Yaletown Partners.
The power of the ThinkData Work's Namara platform was recently exemplified by the company's work with COVID-19 data that enabled policymakers, pharmaceutical companies, and consulting firms to derive insights from data two levels more granular than the leading sources. This level of granularity allowed for fast and accurate decisions to be made at such a crucial time for public health, as well as the economy.
ThinkData Works has seen impressive growth and continues to partner with world-class organizations. The new financing will allow the company to further develop its product offering, continue its geographical expansion and accelerate growth.
Ontario Capital Growth Corporation (OCGC), an investor in Yaletown Partners, is plased to see Yaletown Partners adding another great Ontario company to its portfolio. "ThinkData Works has solutions and data that can help decision makers get Ontarians back to work. We are pleased to be a part of companies that are making a difference and to be supporting another innovative Ontario company." said Steve Romanyshyn, CEO, OCGC.
Yaletown is excited to be investing in a company that provides foundational support for the digital transformation. Yaletown seeks companies that are enabling enterprises to make better decisions, ultimately leading to the consumption of fewer resources, driving climate-resilient growth. This marks another investment for Yaletown Partners in Ontario and exemplifies the continuation of the firm's pan-Canadian strategy. "ThinkData is the latest addition to our portfolio that is focused on leading-edge data technologies enabling digital transformation. It is also reflective of the dynamic and globally recognized technology ecosystem in Ontario in which we are actively deploying capital." said Salil Munjal, Managing Partner, Yaletown Partners.
About Yaletown Partners
Yaletown Partners is a leading Canadian investor dedicated to closing the scale-up capital gap and focused on the Intelligent Industry opportunity. We invest in emerging-growth companies that enhance sustainability and productivity for industrial and enterprise customers. Our investments enable the application of data and technologies to digitally transform traditional industries, drive innovation, create operational efficiencies and reduce the impact of climate change. In 2017, Yaletown received the CVCA's Venture Capital Deal of the Year award for its investment in BitStew, Canada's largest venture financed exit of 2016. Backed by leading institutional investors, including pension funds, and a network of successful technology entrepreneurs, Yaletown has offices in Vancouver, Calgary, Toronto and Montreal. For more information, please visit www.yaletown.com
About ThinkData Works
ThinkData Works, Inc. (ThinkData) is a Toronto-based company founded in 2014. ThinkData created Namara - a data management platform that enables businesses to access, manage, enhance, and integrate data in order to develop new products and gain insight. Built for data professionals, Namara is a data refinery for the enterprise, designed to let organizations and individuals access high-value data in standard formats. To learn more, please visit Namara and follow us @ThinkDataWorks and on Linkedin.
SOURCE Yaletown Partners