Intelligence and security specialist Synalogik has raised more than £3.0m ($4.1m) in a Series A funding round led by former Tesco Chief Executive Sir Terry Leahy, Bill Currie, founder of retail, e-commerce and tech investment fund the William Currie Group, and gambling industry heavyweight Mark Blandford.
Synalogik will use the new capital to scale its Scout data aggregation and reporting platform across different markets and territories, as well as expedite the launch of additional products. The company currently provides Scout to operators such as Entain and Betway, and Chief Executive, Gareth Mussell, commented:
“The data landscape is exploding, organisations have unprecedented opportunities to make intelligent decisions based upon the data within their eco-system or immediately available to them. Organisations are struggling to harness these opportunities and often rely on manual processes to aggregate data – this is simply not scalable. Scout has been developed to overcome these challenges and it’s great to see that the potential for the business and our growing suite of solutions has been recognised by high profile investors such as Sir Terry Leahy, Bill Currie and Mark Blandford.”
Sir Terry Leahy added that the threat from money laundering and fraud to public and private organisations was very significant and growing, saying: “Businesses are struggling to meet compliance standards and need better solutions like the Scout product from Synalogik which transforms the speed of data aggregation and analysis of risk.”