Lynx Analytics, a so-far well-hidden local tech start-up, located at JTC LaunchPad @ onenorth, today announced they have raised just under USD 10 million. The tech start-up provides trending ingredients such as graph analysis, big data insights, and campaign execution using those insights.
Lynx was valued by its new strategic investor at USD 66 million, which qualifies it as one of the highest-valued local technology start-ups raising their first round of investment in Singapore.
Lynx believe this is not just great for the company but yet another important milestone for the ecosystem as a whole. The company hopes its own success will inspire the local start-up scene and they are more than willing to provide something back to the community. The company feels they have benefited from being located at JTC LaunchPad @ one-north — a nurturing environment for local start-ups and incubators, which has provided access to talent, advisors and like-minded entrepreneurs during their start-up journey.
Lynx further revealed that in the past the company received other investment or acquisition offers, but always declined them. Posting 50-60% annual business growth over the past few years and healthy profits meant they actually never needed the money to continue their growth or to sustain their business. Lynx accepted this particular investment offer, as they believe now is the right time to accelerate product development activities, strengthen their commercial position in Asia, and position themselves for global business expansion. They currently work with clients in Singapore and across the region.
Lynx started out in Singapore in 2010 as a consultancy services business focusing on complex graph-related big data analytics, with its roots at the INSEAD business school. As they could not find any third-party technology to support their business needs, they decided to build their own platform solution. For product development and deployment Lynx brought in experts from several Silicon Valley technology and analytics “Unicorns”, mixed with local and foreign talent. To develop the technology and to test it at real data scale, Lynx decided strategically over the last few years to focus on the Telecom, Mobile Advertising, Financial Services, and Fintech industries first, while keeping an eye out for new complex problems to solve with support from its academic roots and its network in Silicon Valley and the US East Coast.
About Lynx Analytics Singapore-based Lynx Analytics’ focus is to achieve business outcomes by marrying Big Graph research with end to end Analytics execution. Project scopes include insight generation by designing and implementing graph analytics empowered recommendation engines, campaign execution, and business workflow design and implementation to monetize the generated insights.
The Lynx teams’ qualifications and knowledge links are global in nature, including executive experience in managing modelling teams at prestigious telecoms and banks as well as academic links to various US universities, INSEAD and NUS locally. The combination of insightful frameworks, an intuitive analytics product with market leading computation scalability, and a data science team with domain knowledge enables ultra-fast and unique business outcomes.