Cybersyn, the Data-as-a-Service company, is announcing its recent financial milestone, having reached $62.9 million in Series A funding led by Snowflake, concurrent with its emergence from stealth.
Its flagship offering, a Data-as-a-Service solution, transforms otherwise chaotic public and proprietary data into accessible, commercially-relevant datasets that house an advantageous understanding of the fluctuating market economy.
Cybersyn aims to simplify access and enhance the value of proprietary data, which is abundantly represented by unfindable, stale, complex, and unclear datasets. Useful government data also sees a great deal of scrambling, as its antiquated systems slow and complicate the state of published data, according to the vendor.
“Between inflation and market uncertainty, understanding the economy in real time is a competitive advantage that cannot be achieved with internal data alone,” said Mike Vernal, partner at Sequoia Capital. “Cybersyn’s unique combination of public and proprietary datasets will enable companies and government agencies to make decisions faster and with more precise information.”
With data accessibility driving Cybersyn’s push for its Data-as-a-Service offering, its ambition lies in democratizing often convoluted, yet opportune data for those who are key decision-makers in a variety of enterprises.
“Cybersyn is an investment in people,” said Alex Izydorczyk, CEO and founder of Cybersyn. “There is a wealth of data that goes unused because the individuals with the technical expertise to analyze it are often not the same individuals who have the business acumen to apply it effectively. We’re focused on bridging that gap.”
The Series A funding round—led by Snowflake with participation from Coatue and Sequoia Capital—will propel Cybersyn’s team growth, as well as the enterprise’s investment in acquiring more proprietary data. The conclusion of the round saw a series of appointments to Cybersyn’s board of directors, sourced from both Snowflake and Coatue’s teams.
“Cybersyn is on a mission to revolutionize market intelligence and is well positioned to tackle this challenge with its data science expertise,” said Christian Kleinerman, senior vice president of product at Snowflake, and recently appointed to the board of directors at Cybersyn. “At Snowflake, we believe in the power of data to transform business outcomes. Our partnership with Cybersyn will enable us to deliver even more valuable content to our customers on Snowflake Marketplace.”
Cybersyn is armed with the goal to create an environment of global economic data to be easily consumed and leveraged by government entities, businesses, and startups to make better, more informed decisions, according to the vendor.
"Our digital economy generates massive amounts of data, but we are only leveraging a fraction of this data to improve decision making,” said Thomas Laffont, co-founder and senior managing director of Coatue, who was also recently appointed to the board of directors at Cybersyn. “Cybersyn has the power and potential to deliver a paradigm shift in the way we operationalize the world’s data.”
To learn more about Cybersyn, please visit https://www.cybersyn.com/.