Fulcrum Equity Partners announced today a growth equity investment of $8.5 million in Synthio, a data solutions company that automates the data cleansing process for B2B marketing contact data. Synthio, formerly known as Social123, has served over 1,500 customers since its inception in 2011 and has been on the Inc. 500 list of fastest growing private companies for the past two years.
Synthio provides the richest firmographic and technographic contact data available for improving existing contacts or originating new contacts, fulfilling the data needs of the modern marketer.
"We've known Aaron Biddar and his team at Synthio for a number of years, and we're very impressed with the platform they've built," said Jim Douglass, partner at Fulcrum. "In speaking with customers, it was evident that Synthio is the market leader in providing clean, actionable contact data that enables B2B enterprise marketers to succeed at scale."
Synthio plans to invest the additional capital in growing its sales, marketing, customer success and product teams. It will also use the funds to expand its contact data management platform to further solve the data quality needs of its clients.
"What set Fulcrum apart from other investors we spoke with is their operating backgrounds and true knowledge of how to grow a B2B SaaS business," said Aaron Biddar, founder and CEO of Synthio. "We look forward to working with the Fulcrum team to build upon what we've created to date and scale Synthio to the platform we know it can become."
Synthio is the first of its kind customer data platform automating the cleansing, standardization and synthesis of contact, firmographic 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. More information on the company can be found at www.synthio.com.
About Fulcrum Equity Partners
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 provides financing to meet a wide range of needs including internal growth initiatives, acquisitions, divestures, shareholder liquidity and recapitalizations. The partners have over 130 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.