Privacy Policy

Who we are and what this covers

Ninth Wave operates a private network that matches U.S. lower middle market financings to lender mandates. This policy covers the public website and the private workspaces used by lenders, brokers and advisors.

Ninth Wave is not a broker-dealer. It makes introductions only and does not negotiate or handle funds.

Information you give us

When you request access we collect your name, title, firm, work email, the role you select, and, if you choose to give them, your phone number and LinkedIn profile. We record the date and the version of the terms and this policy that you accepted.

If you are a lender, we collect what you write to Reid, our AI analyst, about how you invest, any investment criteria you upload, and the mandate profile that results, including your corrections and confirmations.

If you are a broker or advisor, we collect what you write to Reid about a financing, the documents you upload such as a CIM or teaser, and the deal profile and financing teaser that result.

We record the decisions you make in the network: the recipients a broker approves, a lender's reply of Interest, Pass or Feedback and any reason given, introductions made, and status updates you choose to add.

Dictation

Reid works in writing. If you use the dictate button, speech is converted to text by your browser's own speech service, which is operated by your browser vendor. Ninth Wave does not receive or store the audio. We receive only the text you choose to send.

Ninth Wave does not place or record phone calls with users.

Information from other people

A user may refer a colleague by giving us that person's name and work email. The founder may also keep a list of professionals he intends to contact about the network, drawn from his own relationships and public professional sources. If we hold your details this way and you would rather we did not, email privacy@theninthwave.ai and we will remove them and stop contacting you.

Information collected automatically

We use cookies that are strictly necessary to keep you signed in. With your consent, we use PostHog to record a small set of product events, such as a form being started or a profile being confirmed, along with the page address and any campaign tag. We do not record sessions, and we do not send deal or mandate content to analytics. This product analytics is off if you decline or if your browser sends a do not track signal.

Separately, we use Vercel Web Analytics to count visits to the site. It sets no cookies, does not identify or follow individual visitors, and gives us only aggregate figures such as page views, referring sites, country and device type. Because it does not identify anyone, it runs without the consent banner.

Emails we send may record delivery, opens and link clicks, which can include your IP address and device type. We use this to know whether an opportunity or an introduction reached you.

Our hosting providers keep standard server logs, including IP addresses. We use IP addresses briefly in memory to limit abuse of the access form.

How we use information

We use information to review access requests, run your workspace, draft and maintain mandate and deal profiles, screen financings against mandates, explain why a lender fits, send opportunities and introductions that the people involved have chosen, send service emails, keep the network secure, and improve the product.

We do not sell personal information. We do not use it for advertising. We do not use your information to train our own AI models.

What lenders and brokers see about each other

No one can browse the network. There is no directory of lenders, brokers or deals.

A broker sees a description of each lender that fits a deal, such as the type of lender, check size range and structures, together with the reason for the fit. A broker does not see a lender's name, title, firm or contact details unless that lender replies Interest to that specific deal, or that lender has asked to see that deal themselves.

A lender receives an opportunity only after the broker has approved that lender as a recipient. The lender first sees an anonymized teaser and the reason for the fit, without the broker's identity or the borrower's name.

When a lender replies Interest, we introduce the two parties by email and share names and work emails with both. If a lender passes, the broker is told that a recipient passed, without the lender's identity or private reason. A lender may separately choose to share an exact clarification question with the broker.

Lenders may see an anonymized summary of recent market activity on the network, such as sector, size band and structure. It never identifies a deal, a borrower or a broker.

AI and service providers

We use Anthropic's Claude models to run Reid's written conversations, to extract facts from the text and documents you provide, and to help rank and explain matches. This means mandate text, deal text and uploaded documents are sent to Anthropic for processing. Under its commercial terms, Anthropic does not use this content to train its models.

We also use Supabase for sign-in, database and private file storage, SendGrid for email, Vercel and Railway for hosting, Sentry for error monitoring with personal data removed, PostHog for the consented analytics described above, and Vercel Web Analytics for the aggregate visit counts described above.

These providers process information only to provide their services to Ninth Wave.

AI and human control

Reid drafts. People decide. A mandate is not used for matching until the lender has reviewed and confirmed it. A financing is not shared with any lender until the broker approves that recipient. An introduction is made only when the lender replies Interest. Matching is not underwriting, and a potential fit is not a financing commitment.

Security

Workspaces require sign-in, and each user can reach only their own records. Administrative access requires a second sign-in factor. Uploaded documents and generated PDFs are kept in private storage and shared through links that expire. Links in our emails that let a lender respond are unique to that lender and that opportunity. No internet service can guarantee absolute security.

To report a security concern, email security@theninthwave.ai. Please do not include confidential client information in a first report.

How long we keep information

We keep account, mandate, deal and introduction records while your account is active and for as long as needed to operate the network, keep an accurate history of who approved and accepted what, resolve disputes, and meet legal obligations. If your access request is declined or you close your account, you can ask us to delete your information, and we will do so unless we are required to keep it.

Your choices and rights

You can decline analytics in the banner on the public site. You can pause or change the emails you receive from the link in any email. You can correct your mandate or deal profile in your workspace at any time.

Depending on where you live, you may have the right to access, correct, delete or receive a copy of the personal information we hold about you, and to appeal a decision about your request. To exercise any of these rights, email privacy@theninthwave.ai. We will verify your request before acting on it, and we will not treat you differently for making it.

Where information is processed

Ninth Wave is based in the United States and processes information there. If you use the network from another country, your information will be transferred to and processed in the United States, where data protection laws may differ from those where you live.

Changes and contact

We will post any change to this policy here and update the date above. If a change is significant, we will tell active users by email before it takes effect. Questions go to privacy@theninthwave.ai.