ICON secures funding for Big Data Analytics company, SynerScope, from Mangrove Capital Partners
SynerScope, a pioneer developer of fast, sense-making Big Data Analytics technologies, announced today it has secured Series A funding from Mangrove Capital Partners, who join existing investors 5 Park Lane and Spitskool.
SynerScope is a leading provider of enterprise business analytics products focusing on big data and business intelligence for banks and insurance companies.
“The strong technology developments we’ve introduced to data driven analytics and decision support have been well received by our clients” states SynerScope’s CEO and Co-founder, Jan-Kees Buenen.
“We are already the preferred choice as a Big Data analytics platform for our insurance industry customers who require omni-channel decision support systems throughout their company. We are delighted that Mangrove understand our strategic position in markets where major players are looking to create a competitive edge based on a data driven business approach.”
SynerScope’s advanced computerized data imaging creates visualizations that bring more analytic power and flexibility. Ease of use of any data will drive new business models. SynerScope is also growing in the areas of Cyber Security, Energy, Utilities and Oil and Gas under a new header Critical Infrastructure.
David Waroquier, Partner at Mangrove Capital Partners commented: “SynerScope has assembled an unparalleled engineering and top management team with a proven track record of bringing leading products to market. The company has already demonstrated cutting edge Big Data Analytics solutions that are fast developing into omni-channel decision support systems, which are attracting strong partners and large insurance companies and banks.”
The new funding will be used to develop a sales and marketing organization in Europe and the US, and develop delivery capabilities through partners SAP, DELL, Amazon, Bitbrains, Hortonworks and Frame.
ICON Corporate Finance, a London based corporate finance boutique focused on the high-tech sector, advised SynerScope through this round of financing. Baruk Pilo, SVP M&A who led the investment added: “This deal represents the third deal for ICON in as many weeks. With this investment for SynerScope and support of the Mangrove team, the Company will rapidly accelerate its development and become a Big Data leader with a unique set of capabilities for the Insurance, Banking and Cyber Security sectors.”
David Waroquier joined SynerScope’s Board of Directors, alongside Jan-Kees Buenen and Pieter Stolk.