Singtel Innov8 participates in DemystData $7m Series B

New York City-based DemystData, a big data technology provider, has concluded a $7 million Series B funding round led by MissionOG with follow on investment from Notion Capital and Singtel Innov8.

In conjunction with the financing, Gene Lockhart, Chairman and Managing Partner of MissionOG, and former CEO of Mastercard International, joined DemystData’s board.

The company, which maintains offices in New York, Singapore, Hong Kong, Melbourne – has raised total funding to $16 million and intends to use the capital from the latest round of funding to grow their technology and client services teams as well as to expand data partnerships to meet demand in the US and Asia Pacific markets.

Led by Mark Hookey, DemystData provides financial institutions with a big data tech platform to tap into unstructured, online, bureau, and internal data, to make risk, and compliance decisions. This enables it to support growth and risk decisions for banks and insurers across 10 countries, with the company claiming to have seen rapid client adoption since its $5 million Series A round in 2014 that was led by Arbor Ventures.

In parallel to this funding round, the company’s announced the launch of the Atlantic Platform, which assesses consumer and small business risk via real-time access, structuring, and delivery of data, text, images, and log files, in partnership with leading sources.

“DemystData is helping clients cut risk by up to 60% and increase acceptance and straight-through processing rates to convert more customers. We provide the key to accessing valuable data 10 times faster while adhering to increasing privacy constraints,” said DemystData’s Mark Hookey.

DemystData also announced the release of the Atlantic Platform, the world’s first solution of its type to assess consumer and small business risk on the back of massive streams of data, text, images, and log files, while improving compliance with emerging privacy law, all through a single API.

Speaking on the investment, Patrick Norris, Principal at Notion Capital, said,”DemystData’s fraud and verification solutions have been particularly successful in the marketplace, with clients increasingly eschewing the more traditional technology solutions providers and preferring to work with best in breed big data technology providers like DemystData.”

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.