Synaptic, alternative data insights start-up, announced today the successful closure of $20 million in Series B funding round led by Valor Equity Partners.
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.
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.
Anurag Abbott, Co-Founder, Synaptic 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. With the Series B funding, we 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.”
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, Antonio Gracias, the Founder, Chief Executive Officer, and Chief Investment Officer of Valor noted, "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."
Speaking on the funding, Rohit Razdan, Co-Founder, Synaptic, said, “This is a significant step forward to harness the full potential of merging ML and analytics with alternative data to improve investing decisions.”
Synaptic was incubated as the data and analytics team at Vy Capital, a $6 billion AuM global technology investment company. It was Synaptic was spun out as an independent company in 2016. Previously, the company has raised $6 million in Seed and Series A funding from Ribbit Capital, Felicis Ventures, and Vy Capital Management.
