Indian Data Analytics Startup Synaptic Raises $20M in Series B Funding from Valor Equity Partners

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Synaptic, an Indian alternative data startup, announced on Tuesday the successful closing of a $20 million Series B funding round led by Valor Equity Partners.

Synaptic said in a statement that with the funding, the company will continue to invest in product innovations, double its data science capabilities, partner with data providers and expand its implementation teams. on the market in the world’s major financial centres.

“The amount of data generated by the world is increasing exponentially every year and can be invaluable in providing accurate and detailed information on all types of markets. However, data is raw, unstructured and constantly changing, making it difficult for businesses to use it in a meaningful way.

“We are a leader in analyzing billions of data points daily to provide investors and businesses with reliable information so they can make better decisions. With Series B funding, we will significantly increase our reach and bring our capabilities to more markets and geographies. We are very excited about Valor’s investment and look forward to working with their incredibly experienced team to take Synaptic to the next level,” said Anurag Abbott, Co-Founder of Synaptic.

Synaptic combines the best of technology, machine learning and finance to bring sophisticated alternative data insights to decision makers. It is trusted by leading venture and private equity firms, hedge funds and asset managers around the world, with combined assets in the hundreds of billions of dollars.

Synaptic provides a data and insights platform for investors looking to leverage various alternative datasets for researching and tracking companies of interest, market research, and portfolio monitoring. The Synaptic platform brings together over 100 performance metrics such as web and mobile traffic, SEO data, employee data, product reviews, developer activity, search trends, and more on hundreds of thousands of public and private companies around the world. These are layered with machine learning-based analytics and an automated insights engine, allowing investors to derive personalized insights from their data that would otherwise remain unknown.

In 2021, the company launched the Synaptic Growth Index, which uses proprietary data science and machine learning techniques to give each company a momentum score by intelligently blending multiple performance metrics.

“Valor has a long history of leveraging alternative data to improve decision making. As the world becomes more chaotic, the importance of alternative data
only grows. We’re excited to support the Synaptic team as they improve the accessibility and usefulness of alternative data only grows. We’re excited to support the Synaptic team as they improve the accessibility and usefulness of alternative data. “, said Antonio Gracias, founder, managing director and chief investment officer of Valor.

Synaptic was incubated as a data and analytics team at Vy Capital, a $6 billion global assets under management (AuM) technology investment firm. Born out of Team Vy’s frustration with existing tools and processes, Synaptic became an independent company in 2016. Previously, the company raised $6 million in seed and Series A funding from Ribbit Capital, Felicis Ventures and Vy Capital Management.

“This is a significant step forward to unlock the full potential of merging ML and analytics with alternative data to improve investment decisions. We are grateful for the continued support of existing shareholders. and the addition of new investors We will continue to expand and strengthen access to our solutions for decision makers and alternative data providers Research and data is a $100+ billion industry that comes to start using alternative data. We want to be the partner of choice for any organization that wants to leverage alternative datasets,” said Rohit Razdan, co-founder of Synaptic.

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