Snowflake, the data cloud provider, has led a $62.9M Series A funding round for Cybersyn, a New York-based company that offers data-as-a-service for enterprises. Other investors participating in the investment are Coatue Management and Sequoia Capital.
Cybersyn’s mission is to make public and proprietary economic data more accessible and useful for decision makers across various sectors. The latest funding will help the company to grow its team and data products, as businesses are increasingly turning towards data science to drive efficiencies.
The company was founded in 2022 by Coatue’s former head of data science Alex Izydorczk. Alex started working with external data during his career at Coatue and later decided to transform this work into a dedicated company providing data assets on the Snowflake marketplace.
The partnership brings forward the key advantages of being able to access a plethora of external datasets. With Cybersyn, users will spend less effort in finding datasets related to their domain, and engineering teams don’t have to invest as much effort to make the information usable.
Cybersyn also offers e-commerce benchmarks, using data to measure ad spending and online sales by category. Moving ahead, the company plans to launch datasets focused on consumer spending in the United States.
The investment has come directly from Snowflake’s corporate side, and not its venture arm. Snowflake executives Mike Scarpelli and Christian Kleinerman, along with Thomas Laffont, co-founder of Coatue, will be joining the board of the company.
The investment signals a new phase for the company, especially due to the power of Snowflake’s data platform. Cybersyn is well-positioned to revolutionize market intelligence and with the latest funding, the company will continue making valuable content available for users on the Snowflake Marketplace.
Cybersyn is a New York-based company founded in 2022 by Alex Izydorczk, former head of data science at Coatue. His expertise in data management, industry knowledge and a passion for revolutionary data products have enabled the company to become one of the leading providers of data-as-a-service in the US. Alex is a data science expert who has vast experience in transforming public and proprietary economic data into commercially relevant datasets. He strives to develop data-driven solutions that bring superior value to businesses and governments, helping them make more informed decisions.
