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    Innovation Village | Technology, Product Reviews, Business
    You are at:Home»Data»Data Automation Tech Startup Synatic Secures $1-million in Funding

    Data Automation Tech Startup Synatic Secures $1-million in Funding

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    By Tapiwa Matthew Mutisi on March 26, 2021 Data, Funding, Investments, Startups, Technology in Africa

    SA-based data automation tech startup Synatic, a fully-featured integration and data processing platform, built for the connected cloud era has secured $1-million in a seed funding round led by UW Ventures with participation from Allan Gray and E Squared. According to reports, the funding will be used to expand the tech startup’s customer base in the United States and to further develop its low-code data platform. 

    Harry Apostoleris, director of UW Ventures provides insight into their investment into the local tech startup.  

    “Synatic have 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 monetise their data. We were attracted to Martin’s compelling product vision and the early validation from partners and customers, and we believe the business is well-positioned to become an enduring company,” explains Apostoleris.

    Synatic

    Founded in 2017, Synatic aims to assist enterprises in building their business through its innovative and simple data platform. Bootstrapped to date, the tech startup now reportedly has over 40 clients across Africa, Australia, and the US. The majority of its enterprise client base is financial service companies such as Tokio Marine, Community Bank, and EasyEquities.

    According to a report issued the startup was founded to easily integrate systems such as AS400 and DB2 into modern cloud services like Salesforce, HubSpot, and Acumatica.

    Martin Naude, CEO of Synatic explains 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 SA, 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,” says Naude.

    Related

    Allan Gray Data Automation E Squared Investments Expansion Funding Seed Funding Startup Investments Technology in Africa UW Ventures
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    Tapiwa Matthew Mutisi
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    Tapiwa Matthew Mutisi has been covering blockchain technology, intelligent technologies, cryptocurrency, cybersecurity, telecommunications technology, sustainability, autonomous vehicles, and other topics for Innovation Village since 2017. In the years since, he has published over 4,000 articles — a mix of breaking news, reviews, helpful how-tos, industry analysis, and more. | Open DM on Twitter @TapiwaMutisi

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