Data literacy is the ability to understand, evaluate, and apply the structures behind data. With its platform, the Munich-based startup Lyntics aims to help companies achieve precisely this. To this end, it collects all existing work results across departmental and company boundaries and extracts, stores, and visualizes the logic, relationships, and information contained within them. This makes the knowledge immediately usable and searchable for all employees in the company.
The startup was founded by two former Celonis employees, Andreas Kloetzel and Thomas Kerschbaumer. The two then launched the consulting and implementation company Processand in 2017. Starting in 2018, they developed an internal expertise platform from their data analysis business. The strong customer interest led to the official launch of Lyntics in November 2021.
Andreas Kloetzel explained:
"In the past, companies could easily rely on a few data and business intelligence specialists. Today, data-driven decisions are critical to success in all areas of the company. Therefore, almost everyone needs to become a data expert to create real business value."
And Thomas Kerschbaumer added:
"True data experts are rare. Most companies struggle to find and retain the right people—especially since many of them will soon be retiring. But data literacy is difficult to scale. With Lyntics, we want to change exactly that and make the knowledge of some accessible to all."
With their product, the Lyntics team has already attracted 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 now completed seed funding, Senovo, a VC fund specializing in B2B SaaS, and Ventech, a pan-European VC firm for early-stage tech, are joining the team.Startups, on board. The platform's launch coincided with the announcement of the seed funding. The company plans 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 leading companies in their respective industries, which possess vast amounts of data, cannot utilize it quickly and efficiently. This makes answering seemingly simple questions very complicated for data scientists. This is precisely where we see the great potential of Lyntics. As a digitally focused pan-European VC, we have been delighted to support Lyntics since its early development phase. And we are deeply convinced that Lyntics' Knowledge Graph and Workbench will help customers find the right answers faster than ever before."
Lucas Behem of Senovo includes:
"With years of experience from more than a hundred data analytics projects, the Lyntics team brings the necessary expertise and a deep understanding of their customers' problems. We are pleased to support Lyntics' vision of more data-literate companies through this funding."
