Business

Synaptic announces $1 Million maiden ESOP Buyback Program

Synaptic, a leading alternative data insights company, focused on providing actionable insights to global investment firms, announced an ESOP buyback worth $1 million for its employees.

This is the first ESOP buyback that the company has announced since its inception.

“People are core to Synaptic’s success, and as we grow, we are committed to creating more such opportunities for our employees. We have designed our ESOP program to be best-in-class with employee-friendly features such as an extremely long exercise period and monthly vesting to reflect this intent. We believe the best is yet to come for Synaptic and our fellow Synapticans.”

Anurag Abbott, Co-Founder, Synaptic

With this ESOP buyback program, Synaptic is looking to ensure that employees are rewarded for contributing to the organization’s success and their continued confidence in Synaptic’s future.

“I started my journey with Synaptic 5 years ago, and seeing Synaptic change and grow over the years and play a small part in its success has been incredibly fulfilling professionally and personally for me. This ESOP buyback makes me feel more excited and geared up for the next phase of growth at Synaptic.”

Vikrant Raj, Head of Design and an early employee at Synaptic

The Synaptic platform is used by global VC and private equity firms, hedge funds, and asset managers across US and UK markets. Synaptic recently secured a funding of $20 million in a Series B million funding round led by Valor Equity Partners. Previously, the startup has raised $6 million in seed and Series A million funding from Ribbit Capital, Felicis Ventures, and Vy Capital Management.

The organization plans to expand its footprints across more markets and geographies in the coming year and focus on doubling its current headcount in the next 18 months.

About Synaptic:
Synaptic was incubated inside Vy Capital, a $6 billion AuM global technology investment company, and spun out by Anurag Abbott and Rohit Razdan in 2016 to bring the best of finance and technology into a platform that could supercharge insights and decision-making for investors and corporates.

By bringing the power of data and machine learning to alternative data research, Synaptic provides comprehensive tracking of companies, sectors, and competitors by analyzing various datasets, financials, and company reports in one place.

The company enables top Venture Capital and Private Equity firms, Corporates, Hedge Funds, and Asset Managers across the globe to make better decisions with data-driven confidence. Synaptic has offices in India and the United States.

This article was shared with Prittle Prattle News as a Press Release.
Must Read – India’s largest Digital
Follow Us: Facebook Instagram | Twitter YouTube | LinkedIn Pinterest Tumblr

What's your reaction?

Related Posts

1 of 1,063