ATLANTA, June 23, 2017 /PRNewswire/ -- Synthio, Inc., formerly known as Social123, the fastest growing customer data platform (CDP), today announced a major new financing round totaling $10.5 million.
Fulcrum Equity Partners led the new round with participation from current investors including: Vocap Investment Partners, Spinnaker VC Direct, LLC, Bahns Stanley, Stanley Partners, Ellis Capital, Buckhead Investments, the AIM Group, and Silicon Valley Bank. Synthio has raised $8 million in previous rounds.
"Synthio is perfectly positioned to become the must-have solution for business-to-business enterprise marketers tasked with managing complex and rapidly changing customer data," said Aaron Biddar, Synthio's CEO and Founder. "The new funding allows us to continue investing in our unique ability to synthesize 1st and 3rd party data into the highest quality contact, firmagraphic, and technographic profiles. Our contact-centric approach to customer data is unique in the market and is an indispensable solution designed to address the major pain points hampering marketers' productivity and performance."
Accurate, up-to-date and actionable customer data sits at the heart of the new wave in marketing technology. Execution of an account-based marketing (ABM) strategy, for example, relies on not only identifying prospective customers based on firmagraphic and technographic characteristics, but also on staying current with the myriad contact profiles within these businesses. Likewise, advanced Marketing Automation Platforms (MAP), which today house large amounts of customer data, are only as effective as the quality of the data that they store.
"High quality leads and prospects are the mined gold on which companies spend fortunes and today's marketers and sales professionals require that this data be in pristine condition," said Jim Douglas, Partner at Fulcrum. "We could not be more thrilled to partner with Aaron and his outstanding team in building the most technically advanced, user-friendly and comprehensive end-to-end customer data platform anywhere."
In addition to platform and product investment, Synthio plans to significantly grow its marketing, sales and customer success teams as it prepares to tackle the vast opportunity ahead. "Synthio's solutions help enterprise sales and marketing teams solve an enormous problem in managing large, disparate and complex contact datasets," said CEO Biddar. "Our customers see us as their partners and they rely on us extensively to assist with all things contact data-centric. We look forward to helping them regain control of their data assets and get back to doing what they do best: selling and marketing."
Synthio has been honored to earn a spot in the Inc. 500 fastest growing private companies for 2015 and 2016. Synthio serves mid-sized and enterprise customers worldwide through a subscription-based model, and today has more than 200 active clients.
Synthio is the first of its kind customer data platform automating the cleansing, standardization, and synthesis of contact, firmagraphic, and technographic data to make it actionable for immediate use. From merging non-standard or free-form data into a single usable dataset, to deduplication, standardization, augmentation, contact acquisition, or simply understanding more about existing data through a data health analysis, Synthio's Customer Data Platform meets every data need of the modern marketer.
Fulcrum Equity Partners is an Atlanta-based growth equity firm focused on providing expansion capital to rapidly growing companies. Fulcrum targets companies that are looking to raise $5 million - $15 million and will consider $3 million - $4 million initial investments in companies that expect to raise additional capital over time. Fulcrum will consider investments in a wide variety of industries with an emphasis on information technology, healthcare and technology enabled operating companies. Fulcrum provides financing to meet a wide range of needs including internal growth initiatives, acquisitions, divestures, shareholder liquidity and recapitalizations. The partners have over 125 years of relevant experience, including operations, venture capital, mezzanine financing, accounting, law, investment banking and strategy consulting. To learn more, please visit www.fulcrumep.com.