Synatic, a South African data automation startup has secured an undisclosed amount of seed funding from UW Ventures joined by Allan Gray and E Squared to strengthen its low-code data platform and grow its user base across the United States.
Launched in 2017, Synatic offers a holistic solution that delivers data integration and automation, saving businesses time and value.
The startup aims to provide progressive enterprises with solutions to complex data problems and guides them through its unique Software with a Service (SwaS) offering.
With a toolset, composed of multiple data systems, Synatic enables organizations to be agile and iterate quickly, giving them a chance to improve innovation as well as respond speedily to market challenges.
Although the company has now grown to serve more than 40 enterprises across Africa, Australia, and the United States, this recent funding will allow it to expand its operations further across the US. This is in line with the vision of Synatic’s CEO, Martin Naude, who disclosed that he had always wanted to build an international software company with South African roots.
“We believe there is a wealth of talent and experience in South Africa, which offers us a great opportunity to build world-class products. We have found product-market-fit and required capital to expand the team, deepen our tech and grow our US customer base,”
“We’re privileged to have UW Ventures and their partners Allan Gray and E Squared as our first investors. They really get our vision to make powerful data automation simpler. We look forward to having them on board, not only as investors but as advisors.” he said.
There’s much enthusiasm on the part of UW Ventures as the director of the firm, Harry Apostoleris said he was excited to be investing in Synatic, and to support the team during its next phase of growth.
“Synatic has built a world-class product that sits at the intersection of a large and rapidly growing SaaS market, the proliferation of the API economy, and drive-by businesses to unlock value from and monetize their data,” he commented.
According to Apostoleris, the attraction to Synatic stems from Naude’s compelling product vision as well as the early validation the company received from its partners and customers.
“We believe the business is well-positioned to become an enduring company,” said Apostoleris.”, he added.
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