The intelligence and security company Synalogik has raised over PS3,0m ($4.1m/EUR3.6m/US$4.1m), in the Series A round of funding led by Sir Terry Leahy, former Tesco CEO.
Bill Currie is the founder of William Currie Group which invests in retail, tech, ecommerce, and a variety of other areas. Mark Blandford, who has dominated the gambling industry, is also a high profile investor.
Synalogik will utilize the capital raised to expand its Scout platform for data collection and reporting across multiple markets and regions, and also accelerate the release of new products.
Synalogik says that these solutions will allow it to expand the use of its capabilities in data aggregation and risk assessment, as well as decision intelligence.
Synalogik – which supplies Scout to operators like Entain, Betway and Betway – also announced that it would invest in staffing, research and developments, and plans to increase the size of their engineering team.
Gareth Mussell, Synalogik’s chief executive officer said: “The datascape is expanding. Organisations have unparalleled opportunities to make smart decisions using the data in their ecosystem or readily available.”
The manual process of aggregating data is not scaleable and organisations are struggling to take advantage of these opportunities.
The Scout product was developed in order to address these issues. It’s wonderful to see high-profile investors like Sir Terry Leahy and Bill Currie, as well as Mark Blandford, recognizing the growing potential of the company and its suite.
The Series A round of funding allows us to quickly scale our capability, add more staff and develop new products that allow us to serve our existing clients better.
Sir Terry Leahy said that money laundering and fraudulent activities pose a “very serious and growing” threat to both public and private organizations.
Businesses are struggling with compliance and require better solutions, like Scout from Synalogik. This product transforms data collection and risk analysis at a faster pace.
