The company aims to use this capital to usher in a new era of data-driven investing and decision making
Mumbai, NFAPost: Synaptic, a leading alternative data insights startup, 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.
Synaptic Cofounder Anurag Abbott said 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. We are a leader in analysing billions of data points every day to provide reliable insights to investors and corporations so they can make better decisions,” said Synaptic Cofounder Anurag Abbott.
With the Series B funding, Synaptic Cofounder Anurag Abbott said the company will massively increase our reach and bring our capabilities to more markets and geographies.
“We are highly enthusiastic about the investment from Valor and look forward to working together with their incredibly experienced team to elevate Synaptic to the next level,” said Synaptic Cofounder Anurag Abbott.
Speaking on the funding, Synaptic Cofounder Rohit Razdan said this is a significant step forward to harness the full potential of merging ML and analytics with alternative data to improve investing decisions.
“We are grateful for the continued support of existing shareholders and the addition of new investors. We will continue extending and strengthening access to our solutions for decision-makers and alternative data providers. Research and data is a $100bn+ industry that has just begun using alternative data. We want to be the partner of choice for any organization that wants to leverage alternative datasets,” said Synaptic Cofounder Rohit Razdan.
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.
Speaking on the investment, Valor Founder, Chief Executive Officer and Chief Investment Officer Antonio Gracias said Valor has a long history of leveraging alternative data to enhance decision making.
“As the world becomes more chaotic, the importance of alternative data only grows. We are excited to support the Synaptic team as they enhance the accessibility and utility of alternative data,” said Antonio Gracias.
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.
About Synaptic:
Synaptic was incubated inside Vy Capital and spun out by Anurag Abbott and Rohit Razdan in 2016 to bring the best of finance and technology into a platform that could supercharge insights and decision making for investors and corporates.
By bringing the power of data and machine learning to alternative data research, Synaptic provides comprehensive tracking of companies, sectors, and competitors by analyzing a wide variety of datasets, financials, and company reports in one place.
The company enables top Venture Capital and Private Equity firms, Corporates, Hedge Funds, and Asset Managers across the globe to make better decisions with data-driven confidence. Synaptic has offices in India and the United States.
About Valor Equity Partners
Valor Equity Partners is an operational growth investment firm focused on investing in high-growth companies across various stages of development. For decades, Valor has served its companies with unique expertise to solve the challenges of growth and scale.
Valor partners with leading companies and entrepreneurs who are committed to the highest standards of excellence and the courage to transform their industries. For more information on Valor Equity Partners, please visit www.valorep.com.
