Data Sentinel picks up C$3.6m in Brightspark-led seed funding

Data Sentinel, a Toronto-based data trust and compliance platform, has closed a seed financing, raising C$3.6 million.

Data Sentinel, a Toronto-based data trust and compliance platform, has closed a seed financing, raising C$3.6 million. The round was led by Brightspark Ventures, with participation from Sentiero Ventures, Delbridge Capital Partners and angel investors. Data Sentinel’s technology helps businesses manage data privacy compliance, governance and quality issues.

PRESS RELEASE

TORONTO – June 10, 2021 – Data Sentinel, the leader in sensitive data management innovation and provider of the Data Trust and Compliance platform for businesses, today announced the close of a $3.6 million funding round. The financing was led by Brightspark Ventures, with participation from Sentiero Ventures, Delbridge Capital Partners, as well as other high value angel investors.

Data Sentinel is a data trust and compliance platform that helps businesses persistently manage their data privacy compliance, governance, and quality in real time. Data Sentinel’s proprietary deep learning discovery technology illuminates the true nature of an organization’s data across all sources and systems, monitoring and measuring the data to ensure compliance with company policies and evolving regulations. Led by industry veterans with extensive real-world experience, Data Sentinel has been built to help businesses produce trusted, correct, compliant, and well governed data.

Data Sentinel will use proceeds from the funding to accelerate its rapid growth in the data privacy and sensitive data management software market. To expand its customer base and product offering, the company is already accelerating its product roadmap and is making considerable new investments in its technology development, customer success, sales and marketing teams.

“At Brightspark, we believe 2021 marks an inflection point in data privacy and management. Companies will make decisions about data privacy that will determine the trajectory of their businesses for the rest of the decade,” said Jacques Perreault, Senior Partner at Brightspark Ventures. “This Series Seed investment and partnership with value-added angel investors will enable Data Sentinel to unlock the next level of their vision to be at the center of this market by providing solutions to help enterprises solve their data privacy/management problems.”

Jacques and key members from the investment team expect to play an active role helping Data Sentinel prepare for a period of accelerated growth.

“New and evolving data privacy regulations, coupled with unprecedented data growth, have exposed businesses to unknown levels of data risk and compliance challenges. ” said David Evans, Managing Partner of Sentiero Ventures. “Data Sentinel automates the tracking, management and remediation of sensitive data challenges in near real time, providing business leaders with the ability to confidently leverage data to grow their companies.”

“We believe that the business challenge related to sensitive data management and data privacy will be a primary focus for companies for the foreseeable future.” said Frank Pizzolato, Managing Partner of Delbridge Capital Partners. “The team at Data Sentinel have decades of experience helping companies manage very large and complex data governance and privacy initiatives. This real-world experience has informed the development of the Data Sentinel technology. With this experience and best-in-class technology, Data Sentinel is poised to be a market leader in the sensitive data management.”

“Data Sentinel has been built with the goal of helping companies produce correct, compliant, well governed data to manage their businesses.” said Mark Rowan, CEO of Data Sentinel. “We illuminate the true contents of an organization’s data, measuring the risk, the quality, and the critical data elements, enabling our customers to trust their data, trust that it is being managed within compliance of company policies. Our partnership with Brightspark, Sentiero, Delbridge, and high value angel investors will enable us to achieve our vision.”

About Data Sentinel
Data Sentinel is a data trust and compliance platform that helps businesses persistently manage data privacy compliance, data governance, and data quality. www.data-sentinel.com

About Brightspark Ventures
Brightspark Ventures is one of Canada’s top performing venture capital firms, actively investing in exceptional entrepreneurs since 1999. We provide growth capital and expertise to disruptive, market-transforming Canadian tech companies in seed to growth stages. Since inception, Brightspark has invested across traditional VC Funds, and more recently under an investment model open to individual and non-institutional investors. www.brightspark.com

About Sentiero Ventures
Sentiero Ventures invests in early-stage software as a service companies that utilize artificial intelligence (AI) as a key element of their solution, capitalizing on the artificial intelligence sector that is expected to add $15 trillion to the global economy by 2030. With a unique investment model, Sentiero is closing the gap between what AI can do and what is useful to a business. The fund invests in verticals including Business Services, Software, Marketing, Real Estate, Financial Services, Healthcare, and Entertainment. After investment, Sentiero leverages its investor-advisors to help support their portfolio companies with operating expertise and connections to potential clients and partners. sentiero.vc

About Delbridge Capital Partners
Delbridge Capital Partners accelerates successful enterprise software start-ups by providing direct investments and supporting the go-to-market strategy and execution in the early stages of start-up growth. Delbridge invests in start-ups focusing on enterprise corporate technologies solving complex business problems in the areas of corporate finance, sales, data management, and cybersecurity. Delbridge Capital Partners are experienced owners and operators of successful B2B enterprise software companies. Delbridge supports its portfolio companies in scaling their businesses by providing access to Delbridge’s extensive network of enterprise customers, capital markets, sales channels and talent. www.delbridgecapitalpartners.com