NEW YORK, Dec. 5, 2022 — Synatic, a data integration, and automation pioneer, has raised an extra USD 2.5 million in a seed extension investment round headed by Allan Gray E-Squared Ventures and UW Ventures. The new money will be used by Synatic to increase its market reach in the United States in preparation for Series A investment in early 2023.
Allan Gray E-Squared Ventures (“AGEV”), Adansonia PE Opportunities VCC, UW Ventures, and the Endeavor Harvest Fund are among the investors in the seed extension round. AGEV and UW Ventures are two of South Africa’s central investment management and venture capital organizations.
Adansonia PE Opportunities VCC (“APEO”) is a Singapore-based African opportunity permanent capital structure. APEO wants to invest in companies that will profit from the growing adoption of mobile technology and the increased demand for fast-moving consumable items by rapidly urbanizing populations. The Endeavor Harvest Fund is a rules-based, founder-aligned fund that invests in a vetted pipeline of medium-sized, high-growth Endeavor Entrepreneurs.
The new initial money will be utilized to extend Synatic’s market reach in the United States, including direct sales and developing reseller and OEM agreements. The Synatic Hybrid Integration Platform combines iPaaS, ESB, ETL, API management, and on-premise connection to provide data integration and automation solution.
The platform provides simple, enterprise-grade solutions that reduce integration, automation, and analytics time and cost by 80%. “As data continues to cause a slew of issues for businesses of all sizes.
“Our investment in Synatic will help the firm further develop internationally, allowing organizations to integrate their systems and use their data easily,” said Brendon Jones, Chief Executive Officer of Adansonia Fund Manager Private Limited and Director of APEO.
“Synatic’s integration and automation platform is already gaining traction in several foreign markets,” stated Martin Naude, Synatic’s creator and CEO. “We can bring a fresh emphasis to the US market with this extra seed money, growing our sales and marketing program, and hiring new reseller and developer partners.”
Synatic offers a complete solution for the USD 19 billion data integration industry, giving a low-code/no-coder/your-code solution to ease internal and external data source integration. The business has already built automated data integration solutions for market leaders in insurance and wealth management and is enabling Salesforce clients. Synatic also provides pre built connections to popular data sources such as AWS, Sage, HubSpot, Google Cloud, and others.
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