The company admits to turning down previous acquisition and investment offers, but has decided the current investment will help global expansion plans
If one were to visit the e27 office, after exiting the elevator and taking a right they would find themselves passing the Carousell office, a VC firm and, if they went too far, a renovation project. They might miss, along the way, a humble office with a small fooseball table inhabiting the corner space.
The residence of this office is a Singapore-based data analytics startup named Lynx Analytics, and today it announced what is one of the largest early-stage fundraising rounds in the city — a US$10 million investment from a strategic corporate investor at a valuation of US$66 million.
The core of the company is to marry Big Graph research with end-to-end analytics execution.
The startup says it differentiates itself from other companies in that it links data according to complex interactions with people, things and community. The idea is called Graph Theory — which in a mathematical sense is the comparison of how lines interact with arcs, curves and nodes.
So in the sense of analytics, Lynx Analytics is working to disrupt the standard ‘rows and columns’ method of analysing data.
The company focusses on projects of insight generation, implementing graph-analytics recommendation engines, campaign execution, workflow design and help monetising the observations.
Lynx Analytics called the fundraising “another milestone for the ecosystem as a whole” and cited the positive influence its location at JTC LaunchPad @ one-north had on the company development. It cited access to talent, advisors and entrepreneurs as key contributors to its success in starting up.
Launched in 2010 as a consultancy service, the company is not overly young, but the decision is a shift for a company that admittedly has declined previous acquisition and investment offers. The company says it has routinely posted 50 to 60 per cent growth over the years and has had healthy profits.
“Lynx accepted this particular investment offer, as they believe now is the right time to accelerate product development activities, strengthen their commercial position in Asia, and position themselves for global business expansion,” the statement read.
Photo courtesy of Lynx Anaytics
from e27 http://ift.tt/1TTU8nJ