Alternative data analytics startup Synaptic raises USD 20 Mn in Series B

Alternative data analytics startup Synaptic has raised USD 20 million in a Series B funding round led  by Valor Equity Partners.

The fresh capital will be used in product innovations, enhancing its data science capabilities, partnering with data vendors, and expanding its market footprints across key global financial hubs. “With the Series B funding, we will massively increase our reach and bring our capabilities to more markets and geographies,” said Anurag Abbott, co-founder, Synaptic.

Rohit Razdan, co-founder Synaptic, said the funding “is a significant step forward to harness the full potential of merging ML and analytics with alternative data to improve investing decisions.”

Synaptic combines the power of data and machine learning to provide data and insights to investors. 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. This allows investors to get personalised insights from their data that would otherwise remain undiscovered.
“We will continue extending and strengthening access to our solutions for decision-makers and alternative data providers. Research and data is a USD 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,” said Razdan.