Demyst, the External Data Deployment company, has raised A$33m in one of the largest Australian pre-IPO rounds held to date. Led by Wunala Capital, the round also includes participation from MA Financial (formerly Moelis Australia), Perennial Value Management, Bombora Investment Management, Regal Funds Management and existing Demyst investors Mission OG and Notion Capital.  

Founded in 2010, Demyst was an early innovator in external data access, on a mission to unlock $200b in value in the external data industry. Demyst helps banks, insurers, and fintechs use 10x more external data, 5x faster than direct discovery and deployment, from an ecosystem of over 4,000 data products. On the back of growing demand for curated, certified external data fueled by a maturing data marketplace, Demyst is accelerating its plans to establish the world’s leading external data utility.

“External data is booming but has never fulfilled its potential due to an increasingly fragmented ecosystem” said Mark Hookey, CEO and founder of Demyst. “Demyst removes friction and risk to get relevant data into production for the most important use cases within data hungry financial services players, including sales, digital onboarding, KYC, risk and servicing.”

Demyst provides its customers with a seamless enterprise SaaS platform that connects and certifies thousands of data sources through a single, robust API. Its AI/ML algorithms then curate and recommend the most useful external data to fit client needs, before seamlessly deploying that data into client production workflow while providing ongoing governance through its centralised Data Operations dashboard.

“Demyst serves a fast growing tier 1 global client base within a huge market. We are excited by how much has been achieved to date and the vision for how Demyst can help its clients access external data faster and better to improve commercial outcomes. As part of that growth, we look forward to helping Demyst go through the process to list on the ASX as part of establishing a truly global data utility for the future” said Scott Wilson, Managing Partner of Wunala Capital.

Capital raised in this round will be primarily used to invest in product and client success. In particular Demyst is investing heavily in platform capabilities to streamline the time to production within a simplified commercial structure that removes the uncertainty and effort to go live.

“Enterprises have evolved and expect consumption based self-serve capabilities across cloud and AI. External Data should be no different. We have changed the paradigm so that data is easily discoverable and paid for upon deployment and value” said Mark Hookey.

About Demyst

Founded in 2010, Demyst is a trusted data-to-production solution for over 40 Tier 1 banks, insurers, and fintechs around the globe. Demyst’s enterprise SaaS platform and team have a proven track record helping clients get data out of the lab and into production. Demyst has operations and clients across APAC, North America, and Europe.

About Wunala Capital

Wunala Capital is an investment firm based in Sydney, Australia that backs high-growth companies in the technology, financial services and healthcare sectors, especially those considering an eventual IPO on the ASX.