Synaptic, a leading alternative data insights start-up, announced the successful closure of $20 million in Series B funding round led by Valor Equity Partners. Synaptic combines the best of technology, machine learning, and finance to bring sophisticated alternative data insights to decision-makers.
With the funding, Synaptic will continue to invest in product innovations, double down on its data science capabilities, partnerships with data vendors, and expand its go-to-market teams in key global financial hubs.
“The amount of data generated by the world grows exponentially every year and can be valuable in providing accurate, detailed insights across all types of markets. However, the data is raw, unstructured, and constantly shifting, making it difficult for companies to use it in any meaningful way,” said Anurag Abbott, co-founder at Synaptic.
Synaptic is trusted by leading Venture Capital and Private Equity firms, Hedge Funds, and Asset Managers globally with combined assets of several hundred billion dollars. Synaptic provides a data and insights platform to investors looking to leverage diverse alternative datasets in sourcing and tracking companies of interest, market research, and portfolio monitoring.
The Synaptic platform brings together well over 100 performance metrics like web and mobile traffic, SEO data, employee data, product reviews, developer activity, search trends, etc, on hundreds of thousands of public and private companies globally. These are layered with machine learning-powered analytics and an automated insights engine, allowing investors to get personalized insights from their data that would otherwise remain undiscovered.
In 2021, the company launched the Synaptic Growth Index, which uses proprietary data science and machine learning techniques to give every company a momentum score by intelligently blending multiple performance metrics.
Synaptic was incubated as the data and analytics team at Vy Capital, a $6 billion AuM global technology investment company. Born out of the Vy team’s frustration with existing tools and processes, Synaptic was spun out as an independent company in 2016. Previously, the company has raised $6mn in seed and Series A funding from Ribbit Capital, Felicis Ventures, and Vy Capital Management.