Syntegra Raises $5.625M in Seed Financing.
Financing will help drive Syntegra’s mission of accelerating data-centric research and innovation through AI-generated synthetic data.
SAN FRANCISCO, Jan. 4, 2022 /PRNewswire/ — Syntegra, a synthetic healthcare data generation leader, announced it has closed its seed financing, bringing in a total of $5.625 million. Syntegra’s investors include Sweat Equity Ventures, Hike Ventures, Innovation Global Capital, Wisconn Valley Ventures, Village Global, Impact Venture Capital, GRIDS Capital, Berkeley Catalyst Fund, Launchpad Capital, Vastly Valuable Ventures, and First Spark Ventures.
The funding will allow Syntegra to commercialize new and ongoing work with health systems, payers, life science, and digital health companies, advancing data-driven innovation with synthetic data solutions. It will also enable the growth of the Syntegra Medical Mind, the company’s ever-expanding, pre-trained model, which has now trained on over 10 million records and enables the creation of built-for-purpose synthetic datasets.
In the past year, Syntegra has more than tripled its customer base and partnered with key leaders in healthcare, technology, and data privacy to explore the nearly endless possibilities for synthetic healthcare data in clinical research, analytics, and AI models development.
“Synthetic data has the potential to dramatically transform the way clinical information is shared and utilized by multiple researchers in healthcare,” said Michael D. Lesh, SM MD FACC, Syntegra Founder and CEO. “This funding provides Syntegra with the capital required to fulfill our mission of accelerating innovation by making data more easily available to researchers. In addition, the investors we have chosen all add strategic insights that multiply the value of the capital.”
“Synthetic data is at the forefront of innovation and change in healthcare,” said Guy Perelmuter, Founder, GRIDS Capital. “We’re excited to back the Syntegra team and their distinctive, AI-enabled approach to synthetic data generation, which holds tremendous potential to unlock the vast amounts of data held up in silos across the healthcare industry that can be used to accelerate research and analytics.”
“Syntegra is addressing a major challenge in healthcare today – bridging the gap between data access and data privacy to enable greater use of data that will bring more medical advances directly to patients,” said Daniel Portillo, Founder, and Managing Partner, Sweat Equity Ventures. “We’re thrilled to be working closely with Syntegra as they advance their vision of democratizing healthcare data through their groundbreaking approach to synthetic data generation.”
Syntegra is unlocking the promise of real-world evidence by employing a groundbreaking machine learning model — the Syntegra Medical Mind — to enable low-burden access to high-quality, privacy-preserved data. The result? Realistic but not real, synthetic data that matches the statistical accuracy of the underlying data set cannot be linked to any real patients, making the data easily shareable. Syntegra’s ever-growing model is built from the statistical patterns of structured healthcare data to serve the diverse needs of our customers, including health systems, life science, and digital health companies, payers, and clinical research organizations. Learn more at www.syntegra.io and follow us on LinkedIn and Twitter.