Synatic plots US expansion with $2.5 million seed extension round

Synatic, a South African data integration and automation startup has secured an additional $2.5 million in a seed extension round led by Allan Gray E-Squared Ventures and UW Ventures, to expand to the United States.

• Launched in 2017, Synatic has developed a low-code data automation platform that enables enterprises to iterate quickly and provides rapid time to value for businesses needing to accelerate innovation leveraging multiple complex data systems.
• Last year, when it first announced its seed round, the company said it has over 40 enterprise customers across Africa, Australia and the United States (US), with a focus on financial services companies, including Tokio Marine, Community Bank and EasyEquities
• Synatic provides a complete solution for the $19 billion data integration market, offering a low-code/no-coder/your-code solution to simplify the integration of internal and external data sources.
• The company has already developed automated data integration solutions for insurance and wealth management market leaders and is empowering Salesforce customers.
• Synatic now offers pre built connectors to commonly used data sources such as AWS, Google Cloud, Sage, HubSpot, and other data sources.
• 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 company said in a statement.