Alternative Data Platform Synaptic Raises $20 M In Series B Funding
Synaptic, a Gurugram-headquartered alternative data platform for investors, has raised $20 million in a Series B round of funding led by Valor Equity Partners.
As per the startup, the raised funds will be utilised for product innovation, doubling down on data science capabilities, partnerships with data vendors, and expanding its go-to-market teams.
Synaptic | Unifying Alternative Datasets For Better Investment Insights
Founded by Anurag Abbott and Rohit Razdan, Synaptic helps investors and decision-makers get company insights from a wide spectrum of alternative data. It helps public market investors investing in private companies, private equity, and venture capital firms track the performance of portfolio companies and their competitors as well as potential investment targets.
Speaking about the platform, Anurag Abbott, Co-founder of Synaptic, said,
“We add the customer’s portfolio companies across geographies to the CRM and help them track the KPI (Key Performance Indicators) of their portfolio over time. The platform also flags the inflection point for a company. Our customers can also use the platform to track the competitors of their portfolio companies as well, apart from merger and acquisition targets.”
Synaptic unifies data from proprietary and custom sources layered with a rich analytics toolkit to make investment research more efficient—from sourcing and tracking to due diligence.
The platform offers a dashboard of 100 performance metrics such as web and mobile traffic, search trends, product reviews, SEO data, employee data, developer activity, and others to track performance. It offers its services through an annual or two-year contract and charges a platform fee, apart from a one-time integration fee.
As per co-founder Rohit Razdan, the platform is trusted by top Venture Capital and Private Equity firms, Asset Managers, and Hedge Funds across the globe. The firm has 50 marquee names working with it, including the likes of Valor Equity Partners, Vy Capital, Ribbit, Greenoaks and others, Rohit added.
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