Alternative data insights start-up, Synaptic on Monday said it has closed a $20 million Series B funding round led by Valor Equity Partners which it will use to continue investing 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.
The current capital infusion will not only increase its reach extensively and help to expand to more markets and geographies but also help to focus on doubling its current headcount of approximately 80 people in the next 18 months.
The company said it combines technology, machine learning, and finance to bring sophisticated alternative data insights to decision-makers.
Synaptic was incubated as the data and analytics team at Vy Capital, a $6 billion AuM global technology investment company.
It became 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.
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