Synerise Closes $23M Series B to Fuel International Expansion
Synerise, an AI-first behavioral data platform headquartered in Poland, closed a $23 million Series B round led by Carpathian Partners, a CEE-focused technology investment fund. The round included a primary capital raise and a secondary share acquisition and was joined by several prominent business angels. The purpose of the round is to fund Synerise's expansion into the US market and the continued investment into the company's deep-tech behavioral data processing, AI & process automation platform.
SAN FRANCISCO, May 05, 2022 (GLOBE NEWSWIRE) -- Synerise, an AI-first behavioral data platform headquartered in Poland, closed a $23 million Series B round led by Carpathian Partners, a CEE-focused technology investment fund. The round included a primary capital raise and a secondary share acquisition and was joined by several prominent business angels. The purpose of the round is to fund Synerise's expansion into the US market and the continued investment into the company's deep-tech behavioral data processing, AI & process automation platform.
Synerise addresses many of the key challenges of modern behavioral data operations by combining real-time heterogeneous data collection and analytics, with automated and AI-enhanced decisions and instant use case implementation/deployment into live business environments. Synerise proposition stands in contrast to how enterprises tend to work with behavioral big data, which often includes expensive technology stacks with multiple disparate systems and applications from multiple vendors, resulting in chaotic system architecture, data silos, security risks, and excessive human resources required to staff these operations. Consequently, enterprise data ecosystems rarely operate in real time, despite low latency claims from individual point-solution vendors.
Synerise is solving these problems. Its end-to-end platform provides one environment where most enterprise business processes can be managed from. Some of the many use-cases possible through Synerise include individualized product recommendations, content management, loyalty systems, marketing automation, predictive analytics, scoring & propensity models, churn prevention, NPS measurement, fraud prevention, pricing optimization, and hyper-segmentation, all working seamlessly across the web, mobile apps or even physical channels (e.g. a PoS). Real-time execution - within under a second from the triggering event, through data queries, analytics, decisions, and automated deployment - is possible due to the unmatched speed of Synerise's purpose-built proprietary database technology, Terrarium.
"Our vision is to always be in real-time mode, no matter how much data you need to process. We have created, from scratch, a column & row-oriented real-time behavioral database engine for heterogeneous multi-modal data ingestion, which powers our platform. It enables the daily handling of billions of requests responsible for enterprise-level decisions, without any pre-aggregations or dividing data into hot and cold storage for separate analytical and transactional operations. This gives us a competitive advantage in building highly effective out-of-the-box AI models with self-optimization," commented Jarosław Królewski, the CEO and co-founder of Synerise.
Jacek Dąbrowski, the Chief Artificial Intelligence Officer at Synerise, added: "We manage model agnostic features for real-time inference and batch Machine Learning applications. Our solution also allows to automate feature engineering, manage feature versions, serve features to models, and document feature definitions. Every AI product of Synerise is based on a universal input format for all Machine Learning tasks, operating on raw events with zero information loss with real-time model updates. Everything is packaged in a self-service, low-code & automation platform with reusable components for developers, clients & partners and out-of-the-box products."
Lukasz Gawlik, the founder, and Managing Partner at Carpathian Partners, commented: "We are delighted to partner with Jarosław and the Synerise team on their journey to building a category leader in the behavioral big data and AI space. We remain impressed by how well-thought-out the architecture of the platform is. Combining a proprietary database technology, a global award-winning behavioral AI, and a low-code interface allows for an incredibly broad set of use cases applicable across multiple industries. This horizontal nature of Synerise, combined with its flexibility to address deep vertical big data problems, translates into a vast target addressable market opportunity for the company. With a deep bench of incredible technology talent and truly global ambitions, we believe Synerise has all the required ingredients to achieve and maintain hyper-growth in the coming years."
Cezary Pietrasik, the co-founder, and Venture Partner at Carpathian Partners, added: "The depth of the Synerise product is astounding. Even the biggest software firms in the US do not have such an elegant, unified, and highly-performant solution. We believe that the combination of unique scientific prowess of the platform, thoughtful go-to-market approach, and solid funding will allow Synerise to build a huge business in America. We plan to scale the company quickly in the United States." Cezary will become the new President of Synerise's US business with a mandate to lead the company's expansion in North America.
Founded in 2013, Synerise is a B2B SaaS platform allowing its clients to store and process all their heterogeneous data and automate the data-related processes with the support of a world-class AI and a no-code/low-code interface. Synerise supports its corporate clients in e-commerce, retail, telecom, financial services, and automotive industries across 30 EMEA markets in collecting & analyzing data about customers, users, objects, their behavioral & environmental context, delivering actionable analytics and insights, and deployment of data-based decisions into live use-cases. Synerise's 150+ strong team operates out of offices in Warsaw, Krakow (Poland), and San Francisco (US). The company is known for its scientific achievements in behavioral data modeling and was one of the winners of prestigious international AI competitions incl. RecSys Twitter Data Challenge 2021 and KDD Cup 2021, and was ranked as the 17th fastest-growing company in the technology sector in Europe according to "FT1000 Europe's Fastest Growing Companies 2022." For more information, please visit www.Synerise.com.
About Carpathian Partners
Carpathian Partners is a late-VC and early-growth-equity investment platform providing expansion capital to technology-driven companies originating in CEE and targeting global markets. Carpathian was founded and is led by seasoned private equity professionals with a track record of over $2bn of capital deployed across 20 investments. The fund's Partners are located between London and San Francisco and take an active role in supporting Carpathian's portfolio companies in scaling up and international expansion. For more information, please visit www.carpathianpartners.io.