Press Release (ePRNews.com) - SAN FRANCISCO - Jun 16, 2020 - This month, Syncari announced that it has raised $6.5M in total seed funding, led by SignalFire. This infusion of additional capital allows Syncari to accelerate its customer acquisition plans and bolster its board with two veterans, Ilya Kirnos of SignalFire and Ross Mason of Dig Ventures. Ilya and Ross join an already impressive team of investors, including Ben Bayat of NGVP, who led Syncari’s pre-seed round with Nico Berardi of Animo Ventures.
Ilya Kirnos is the Founding Partner of SignalFire, a venture capital firm focused on seed and early growth stage companies. Previously, Ilya was an engineering leader at Google who aided in the acquisition of the company that became Google Analytics. According to Ilya, the challenge Syncari solves by helping companies organize and access their existing data is immense.
“Revenue operations are central to any company’s ability to deliver on its goals and central to those operations is up-to-date data,” says Ilya. “Syncari is well-positioned to become the leader in this space.”
This round included a strategic investment by Ross Mason, who is the Founder of Dig Ventures and formerly Founder of Mulesoft, where he served as CTO up through its multi-billion dollar acquisition by Salesforce. With the benefit of his experience at one of the world’s largest systems integrators, Ross saw the data challenge firsthand and the acute need for a solution like Syncari.
“From my experience building MuleSoft, I saw a clear need to solve the data automation problem in a simple way that makes data more accessible to more employees within the company,” says Ross. “Syncari is taking a unique approach to this. It’s built from the ground up to solve this problem the right way. If Syncari didn’t build this, I would.”
The data automation market that Syncari now leads is heating up—not despite the pandemic but because of it. Companies everywhere are realizing that the catastrophic cost of bad data is a burden they’re no longer willing to bear. All businesses need better performance from their existing systems and data. Few can afford to buy more, to throw people at the problem, or to ignore it, as was common before a looming recession shook things up.
Which companies need Syncari most right now? According to Ilya, “Any business that has multiple siloed data systems that impact its revenue operations and which need to work together.”
Ross is willing to go even further: “Any company that relies on software to run its business needs Syncari. This is one of the biggest opportunities because it spans all industries. Plus, even post COVID-19, it is estimated that 30% of the workforce will still be remote at the end of 2021. That means companies going through digital transformation have to be more radical in the changes they make to support employees inside and outside ‘the network.’ Syncari has the opportunity to support remote workers as well as help office employees to get their jobs done and improve processes without being hamstrung by an antiquated IT model. Employees will increasingly demand digital independence, and Syncari will show the market what successful digital independence means.”
According to Ross, Syncari is particularly attractive to departments like marketing, supply chain, and e-commerce, but its strategic partner is always IT. Only IT teams have the cross-departmental perspective needed to fully shift their companies to the decentralized data model that the world now demands.
“It’s a great confirmation and boost to have Ross believe in our vision,” says Neelesh Shastry, CTO and Cofounder of Syncari.
“We are humbled to have such industry leaders in our corner and helping guide our journey,” says Nick Bonfiglio, CEO and Founder of Syncari.
“Syncari’s vision for tackling this challenge is differentiated and compelling,” says Ilya. “I couldn’t be more confident that its team has the right talent and experience to execute on this vision.”
About Syncari: With Syncari, organizations can fix their enterprise data, making them more efficient and paving the way for revenue growth. Syncari’s Data Automation Platform gives businesses comprehensive data integration and management, allowing every department to realize the full benefit of their existing systems. Syncari’s patent-pending Multidirectional Synchronization engine adds transactional resiliency to what has been, until now, a “trigger-fire-forget” simple API integration and workflow process in most businesses.
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