Anurag Abbott and Rohit Razdan, Co-Founders - Synaptic
NEWS PROVIDED BY
May 31, 2022, 10:00 ET
The firm plans to use the funds to usher in a new era of data-driven investing and decision-making.
GURGAON and BANGALORE, India, May 31, 2022 /SwiftnliftPR/ Synaptic, a leading alternative data insights start-up, announced today that its $20 million Series B fundraising round, headed by Valor Equity Partners, was successfully closed. Synaptic brings powerful alternative data insights to decision-makers by combining the best of technology, machine learning, and finance.
Synaptic will use the funds to continue investing in product innovation, grow its data science skills, and partner with data vendors, as well as expand its go-to-market teams in key global financial hubs.
“Every year, the amount of data collected around the world increases tremendously, and this data can be useful in giving accurate, thorough insights across a wide range of markets. However, because the data is unstructured, raw, and continuously changing, it is challenging for businesses to make effective use of it. Every day, we analyse billions of data points to give investors and organisations with trustworthy insights that help them make better decisions. We will greatly expand our reach and bring our expertise to new markets and geographies as a result of the Series B fundraising. We are very excited about Valor’s investment and are looking forward to working with their tremendously seasoned staff “Synaptic Co-Founder Anurag Abbott remarked
Leading Venture Capital and Private Equity organisations, Hedge Funds, and Asset Managers throughout the world entrust Synaptic with hundreds of billions of dollars in assets. Investors wishing to use varied alternative datasets in finding and tracking companies of interest, market research, and portfolio monitoring might use Synaptic’s data and insights platform. On hundreds of thousands of public and private organisations around the world, the Synaptic platform pulls together well over 100 performance parameters such as online and mobile traffic, SEO data, employee statistics, product reviews, developer activity, search trends, and so on. These are combined with machine learning-powered analytics and an automated insights engine to provide investors with personalised insights from their data that would otherwise go unnoticed.
Antonio Gracias, Valor’s Founder, Chief Executive Officer, and Chief Investment Officer, said of the investment, “Valor has a long history of using alternative data to help them make better decisions. Alternative data is becoming increasingly important as the world becomes more chaotic. We’re thrilled to be able to help the Synaptic team improve the accessibility and utility of alternative data.”
Synaptic began as a data and analytics unit within Vy Capital, a $6 billion AuM global technology investment firm, and was spun out as a separate company in 2016. Ribbit Capital, Felicis Ventures, and Vy Capital Management previously invested $6 million in the company as seed and Series A capital.
Rohit Razdan, Synaptic’s Co-Founder, said of the funding, “This is a huge step forward in realising the full potential of combining machine learning and analytics with alternative data to better investment decisions. We appreciate existing shareholders’ ongoing support as well as the addition of new investors. Alternative data is only now becoming a part of the $100 billion research and data business. We aim to be the go-to partner for every company that wants to use alternative datasets.”