Razdan wants to be partner in the $100+bn global research and data industry
Chicago-based Valor Equity Partners led the US$20 million Series B funding round for Indian-origin Synaptic, a leading alternative data insights start-up aiming to be part of the US$100+ billion global research and data industry.
“Research and data is a US$100+ billion 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,” Rohit Razdan, Co-Founder, Synaptic, said in a release out of Gurgaon and Bangalore.
“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,” he said on 31 May 2022.
Synaptic was incubated as the data and analytics team at Dubai-headquartered Vy Capital, a US$6 billion AuM global technology investment company and was spun out as an independent company in 2016.
Previously, the company has raised US$6 million in seed and Series A funding from Ribbit Capital, Felicis Ventures and Vy Capital Management.
Synaptic combines the best of technology, machine learning, and finance to bring sophisticated alternative data insights to decision-makers.
Speaking on the investment, Valor Founder and CEO Antonio Gracias, noted, “As the world becomes more chaotic, the importance of alternative data only grows.
“Valor has a long history of leveraging alternative data to enhance decision making. We are excited to support the Synaptic team as they enhance the accessibility and utility of alternative data.”
“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,” said Anurag Abbott, Co-Founder, Synaptic.
“However, the data is raw, unstructured and constantly shifting, making it difficult for companies to use it meaningfully. We are a leader in analyzing billions of data points every day to provide reliable insights to investors and corporations so they can make better decisions.
“With the funding, we will 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.”
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.
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. fiinews.com
