Filament Syfter, a leading AI-enabled data engine purpose-built for private market dealmakers, announced it has raised $4.8 million in a Series A funding round led by FINTOP Capital.
Filament Syfter operationalizes a private equity or investment banking firm’s vast data ecosystem, enabling firms to source more relevant deals and achieve a higher return on investment for all systems in the firm’s technology stack. Firms including Astorg, Inflexio,n and Cavendish have deployed Filament Syfter, demonstrating their leadership in adopting AI technology.
Phil Westcott, former European Director of IBM Watson, launched the company. And there, he drove early adoption of AI in financial services firms. Having assembled a team of data engineers, natural language processing (NLP) and machine learning (ML) professionals, Westcott also recognized the challenges many firms experienced when trying to deploy AI for their own deal sourcing and market coverage purposes. Filament Syfter was then created to enable private markets to curate and train their own AI assets.
How the funding will be used: The funding will be utilized to scale Filament Syfter’s operations as it expands its global presence in the private equity and investment banking industries. And the funding will also accelerate product innovation, enhancing Filament Syfter’s unique proposition for private markets firms.
New board members: FINTOP’s Chris Haley (Partner) and Max Haskin (Principal) will join Filament Syfter’s Board of Directors.
KEY QUOTES:
“Having FINTOP’s investment, financial services industry specialization and operational leadership will undoubtedly enable Filament Syfter to scale worldwide. Given their track record investing in best-of-breed technology for dealmakers, we are thrilled to have their endorsement.”
Phil Westcott, Founder and CEO of Filament Syfter
“Most firms have spent precious time and resources deploying CRMs and other technologies over the past decade but still lack the ability to harmonize and enrich their data ecosystem at scale. Filament Syfter is filling that gap.”
Rick Kushel, Managing Partner at FINTOP Capital
