Lyntics Receives 3.2 Million Seed Funding

August 24, 2022

Data literacy is the ability to understand, evaluate and apply the structures behind data. With its platform, the Munich-based startup Lyntics wants to support companies in exactly this. To do this, it collects all existing work results across departmental and company boundaries and extracts, stores and visualizes the logics, relationships and information contained therein. In this way, the knowledge should be immediately usable and searchable for all employees in the company.

The startup was founded by the two former Celonis employees Andreas Kloetzel and Thomas Kerschbaumer. Already in 2017, the two launched the consulting and implementation company Processand. From the data analysis business, the two then developed an internal know-how platform from 2018 onwards. The great customer interest then led to the official launch of Lyntics in November 2021.

Andreas Kloetzel explains:

"In the past, companies could easily rely on a few data and business intelligence specialists. Today, data-based decisions are critical to success in all areas of the company. That's why almost everyone needs to become a data expert to create real business value."

And Thomas Kerschbaumer adds:

"True data experts are rare. Most companies struggle to find and retain the right employees – especially since many of them will soon be retiring. But data literacy is difficult to scale. With Lyntics, we want to change that and make the knowledge of some accessible to everyone."

With their product, the Lyntics team has already been able to win over well-known tech investors and renowned business angels. The startup is supported by Guntram Friede, former Head of Marketing at Salesforce and Mulesoft, among others. And with the seed financing now completed, Senovo, a VC fund specializing in B2B SaaS, and Ventech, a pan-European VC firm for early-stage tech startups, will come on board. The launch of the platform took place at the same time as the announcement of the seed financing. The company intends to use the new capital to invest in further product development and the expansion of sales and marketing.

"The great potential of Lyntics"

Stephan Wirries, Partner at Ventech, comments:

"Data is worth its weight in gold in the 21st century. Today, most IT systems consist of hundreds of thousands of database tables with cryptic names. And even the top companies in their respective industries, which own huge amounts of data, cannot use it quickly and efficiently. This makes answering seemingly simple questions very complicated for data scientists. This is exactly where we see the great potential of Lyntics. As a digitally focused pan-European VC, we are excited to support Lyntics since the early stages of development. And we deeply believe that Lyntics' Knowledge Graph and Workbench will help customers find the right answers faster than ever."

Lucas Behem of Senovo concludes:

"With years of experience from more than a hundred data analytics projects, the Lyntics team brings the necessary know-how and a deep understanding of their customers' problems. We look forward to funding Lyntics' vision of more data-savvy companies."
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