Total amount raised
$83.4 Million
Latest funding date
09/01/2021
Location
Syndio has developed an AI-driven platform called Syndi™ that provides precise, consistent, and fair compensation recommendations. The platform integrates with tools like Teams and Slack to deliver real-time, explainable pay decisions.
Trusted by over 350 leading enterprises globally, Syndio's platform aims to help organizations win talent, reduce attrition, and control costs by aligning pay decisions with company policies and market insights. Keep reading to explore the intricacies of Syndio's fundraising journey and the investors backing this innovative platform.
What Is Syndio?
Syndio operates in the Human Resources Technology and Compensation Management industry. The company provides AI-driven solutions for making precise and fair compensation decisions. Their flagship product, Syndi, is an AI pay expert that delivers real-time, explainable, and policy-aligned compensation recommendations.
Syndio's platform aims to help organizations win talent, reduce attrition, and control costs by embedding AI-guided pay recommendations into everyday workflows. Trusted by over 350 leading enterprises globally, Syndio's solutions ensure internal equity and prevent costly pay gaps.
How Much Funding Has Syndio Raised?
- Seed Round
- Amount Raised: USD 725,000
- Date: May 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial funding to develop the platform and validate the business model.
- Seed Round
- Amount Raised: USD 1,250,000
- Date: December 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and expand the team.
- Seed Round
- Amount Raised: USD 650,000
- Date: December 2017
- Lead Investors: Frontier Venture Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product features and increase market reach.
- Seed Round
- Amount Raised: USD 5,200,000
- Date: November 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and accelerate growth.
- Series A
- Amount Raised: USD 7,500,000
- Date: May 2020
- Lead Investors: Emerson Collective, Voyager Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's capabilities and support customer acquisition.
- Series B
- Amount Raised: USD 17,100,000
- Date: January 2021
- Lead Investors: Bessemer Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product development and expand market presence.
- Series Unknown
- Amount Raised: USD 1,000,000
- Date: June 2021
- Lead Investors: Penny Jar Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing growth and operational needs.
- Series C
- Amount Raised: USD 50,000,000
- Date: September 2021
- Lead Investors: Bessemer Venture Partners, Emerson Collective
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth, develop new products, and support hiring efforts.
Total Amount Raised: USD 83,475,000. Current Valuation: Not publicly disclosed.
Key Investors
- Bessemer Venture Partners
- Details: Bessemer Venture Partners is a prominent venture capital firm that participated in Syndio's Series C funding round. They have a long history of investing in early-stage companies and helping them scale.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: LinkedIn, Pinterest, Shopify.
- Emerson Collective
- Details: Emerson Collective is an organization that led the Series C funding round for Syndio. Founded by Laurene Powell Jobs, it focuses on social change through investments and philanthropy.
- Investment Focus Areas: Education, immigration reform, social justice.
- Notable Investments: AltSchool, Axios, OZY Media.
- Voyager Capital
- Details: Voyager Capital is a venture capital firm that participated in Syndio's Series C funding round. They focus on early and growth-stage technology companies in the Pacific Northwest.
- Investment Focus Areas: Cloud computing, enterprise software, artificial intelligence.
- Notable Investments: Zipwhip, Lighter Capital, Act-On Software.
- Penny Jar Capital
- Details: Penny Jar Capital is a venture capital firm that invested in Syndio during a Series Unknown round. They are known for supporting innovative startups.
- Investment Focus Areas: Technology, consumer products, healthcare.
- Notable Investments: Not publicly disclosed.
- Frontier Venture Capital
- Details: Frontier Venture Capital is a venture capital firm that invested in Syndio during a seed round. They focus on early-stage investments in high-growth potential companies.
- Investment Focus Areas: Technology, healthcare, consumer products.
- Notable Investments: Not publicly disclosed.
What's Next for Syndio?
With a fresh infusion of $50 million from its Series C funding, Syndio is poised to accelerate its growth and expand its product offerings. The company aims to broaden its focus from pay equity to overall workplace equity, addressing emerging issues such as remote and hybrid work dynamics. This expansion presents a significant opportunity to solidify its position as a market leader in workplace analytics.
Future fundraising appears promising, given the strong backing from high-profile investors like Emerson Collective and Bessemer Venture Partners. As Syndio continues to grow, additional funding rounds could support further product development and market expansion. However, the company will need to navigate challenges such as maintaining the accuracy of its data-driven solutions and staying ahead of regulatory changes.
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