Total amount raised
$23.8 Millions
Latest funding date
05/01/2021
Location
Syncari has successfully raised funds through multiple rounds, with its latest Series A funding occurring on May 18, 2021. The company is backed by five investors, including DIG Ventures and SignalFire.
Syncari's platform focuses on Agentic Master Data Management, offering solutions for data quality, observability, and workflow automation. Keep reading to explore the intricacies of Syncari's fundraising journey and the investors backing this innovative platform.
What Is Syncari?
Syncari, founded on June 22, 2019, by Neelesh Shastry and Nick Bonfiglio, is headquartered in Newark, California. The company operates in multiple industries, including health care, information technology, SaaS, and data management.
With a team of 51-100 employees, Syncari specializes in Agentic Master Data Management (MDM). Their platform unifies, governs, and synchronizes data across various systems, leveraging automation, advanced analytics, and intelligent workflows to ensure data reliability and drive meaningful business insights.
How Much Funding Has Syncari Raised?
- Series A
- Amount Raised: $17.3M
- Date: May 18, 2021
- Lead Investors: Crosslink Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate market rollout, expand sales, marketing, customer success, and engineering teams, and lead the new category of data automation.
- Seed Round
- Amount Raised: $5M
- Date: June 18, 2020
- Lead Investors: SignalFire
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and expand the team.
- Seed Round
- Amount Raised: $1.5M
- Date: May 15, 2019
- Lead Investors: ANIMO Ventures, NextGen Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To launch the initial version of the platform and begin market penetration.
Total amount raised: $23.8M. Current valuation: Not publicly disclosed.
Key Investors
- Crosslink Capital
- Details: Crosslink Capital is a venture capital firm based in San Francisco. They focus on early-stage investments in technology companies.
- Investment Focus Areas: Technology, data management, cloud infrastructure
- Notable Investments: Pandora, Ancestry.com, Coupa Software
- SignalFire
- Details: SignalFire is a venture capital firm that leverages data and technology to support its portfolio companies. They are known for their data-driven approach to investing.
- Investment Focus Areas: Artificial intelligence, SaaS, healthcare
- Notable Investments: Grammarly, Frame.io, Ro
- ANIMO Ventures
- Details: ANIMO Ventures is an early-stage venture capital firm that invests in technology startups. They focus on companies that have the potential to create significant impact.
- Investment Focus Areas: Technology, SaaS, consumer internet
- Notable Investments: Notion, Carta, Pipe
- NextGen Venture Partners
- Details: NextGen Venture Partners is a network-driven venture capital firm. They leverage a large network of venture partners to support their portfolio companies.
- Investment Focus Areas: Technology, healthcare, consumer products
- Notable Investments: Parachute, FiscalNote, UrbanStems
- DIG Ventures
- Details: DIG Ventures is a venture capital firm that invests in early-stage technology companies. They focus on companies that are solving complex problems with innovative solutions.
- Investment Focus Areas: Technology, data management, SaaS
- Notable Investments: Not publicly disclosed
What's Next for Syncari?
Syncari stands at the cusp of a transformative opportunity, aiming to address the pervasive issue of data distrust in enterprises. With the rapid adoption of cloud infrastructure and SaaS tools, the company sees a massive market potential to unify and automate data management, making the modern tech stack operate as one efficient system.
Given the successful Series A funding, future fundraising opportunities seem promising as Syncari continues to expand its market presence and enhance its platform capabilities. However, the company may face challenges in convincing enterprises to replace entrenched, outdated systems and ensuring the platform remains user-friendly for non-technical users while adding advanced features.
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