Good news for Synatic, as they complete on a successful funding round;
Synatic, a leader in data integration and automation, has secured an additional $2.5 million in a seed extension funding round led by Allan Gray E-Squared Ventures and UW Ventures. Synatic will use the additional funds to expand market reach in the United States in preparation for Series A funding early in 2023.Participating in the seed extension round are Allan Gray E-Squared Ventures (“AGEV”), UW Ventures, Adansonia PE Opportunities VCC, and the Endeavor Harvest Fund. AGEV and UW Ventures are leading investment management and venture firms based in South Africa. Adansonia PE Opportunities VCC (“APEO”) is an African opportunities permanent capital structure based in Singapore. APEO seeks to invest in businesses well-positioned to benefit from the rapid adoption of mobile technologies and the growth in demand for fast-moving consumable goods by rapidly urbanizing populations. Endeavor Harvest Fund is a founder-aligned, rules-based fund investing in a vetted pipeline of medium-sized, high-growth Endeavor Entrepreneurs. EXPANSION IN USA The additional seed funding will be used to increase Synatic’s market footprint in the United States, including direct sales and expanding reseller and OEM partnerships. The Synatic Hybrid Integration Platform is a data integration and automation solution that brings together iPass, EB, ETL, API management, and on-premise connectivity. The platform offers simple, enterprise-grade tools to cut the time and cost of integration, automation, and analytics by 80%.
“As data continues to cause a multitude of problems for companies of various sizes, our investment in Synatic will help the company further expand globally, allowing organizations to seamlessly connect their systems and utilize their data,” said Brendon Jones, Chief Executive Officer of Adansonia Fund Manager Private Limited and Director of APEO.