Fulcum Equity Partners recently announced that it will invest in growth equity to the tune of $8.5 million by investing in Synthio, a data solutions company. The investment is a series C growth capital investment. Synthio, which was previously known as Social123, has catered to over 1500 customers, since its founding in 2011. It has also been noted on Inc Magazine’s 500 list of fastest growing private companies for the past two years.
Synthio is provider of rich firmographic and technographic contact data to generate new contacts and manage existing contacts effectively, which is the backbone of today’s marketer.
Jim Douglass, partner at Fulcrum stated that they have known Aaron Biddar and the team at Synthio for some time and are impressed with the platform they have built. When they spoke to customers, they found that Sythio is definitely the market leader in providing clean and actionable contact data and empowering B2B marketers to scale offerings.
Synthio will be using the additional funds to bolster sales, marketing, and customer success teams. They also aim to further enhance their product platform so that they can provide better quality data to their clients.
Speaking on the occasion, Aaron Biddar, CEO of Synthio, said the difference between Fulcrum and other investors is their background and knowledge of running a successful SaaS business. They look forward to the association with Fulcrum to grow Synthio and make it a truly scalable platform.
Anirudh M. for TechFunnel.com