MaRS

MaRS

July 09, 2010 11:59 ET

MaRS Discovery District Lauds "Lab to Market" Success for Social Media Start-Up

Sysomos Acquisition by Marketwire Well Positioned to Drive International Growth

TORONTO, ONTARIO--(Marketwire - July 9, 2010) - MaRS, a Toronto-based not-for-profit innovation centre focused on building Canada's next generation of technology companies, is proud to have been a part of Sysomos' success and offers congratulations on it being acquired by top-tier communications organization Marketwire. MaRS' influence on the "lab to market" success of the social media start-up is evidence of the centre's ability to work with entrepreneurs to grow and scale their ventures into global market leaders.

Sysomos became a MaRS client in 2006, following its birth in 2005 as an advanced research project for content aggregation and analysis at University of Toronto's Department of Computer Science. Spearheaded by then faculty member Nick Koudas and graduate student Nilesh Bansal, Sysomos took advantage of MaRS advisors and mentors to help with their business development and was introduced to other key Canada-based resources including Scott Vanderwel, Head of Monitor Canada's Toronto office and volunteer advisor at MaRS; Vanderwel later joined the Sysomos board.

"We're grateful for the work that MaRS did over the years to help us move the company forward," said Koudas, President and Co-Founder of Sysomos. "We are also grateful for the counsel and high degree of engagement Scott demonstrated as a member of our board." 

The Sysomos platform brings business intelligence to social media by providing the ability to contextually analyze conversations across a variety of media channels. The Sysomos technology is an advanced social media monitoring and analytics platform, collecting and processing more than a billion new online conversations a month. This industry-leading platform allows major brands to quickly discover the tone of social media conversations and provides the ability to see what's happening, why it's happening, and who's driving the conversations. 

Sysomos, now profitable with 25 employees, has added an impressive set of organizations to its client list, which includes boutique and international agencies, mid-sized companies, and some of the world's biggest brands such as Hill & Knowlton, Microsoft, Procter & Gamble, Coca-Cola, Disney and Shell; now becoming part of Marketwire, Sysomos has the opportunity to offer even more to its clients and to the 11,000 clients in Marketwire's portfolio.

"The progress Sysomos has made in terms of refining its product and establishing a strong position in a highly competitive market since we first met Nick's team is impressive," said Dr. Ilse Treurnicht, CEO of MaRS. "This is a terrific example of a great technology transitioning from lab to market, and in being acquired by Marketwire, scaling internationally - with high value job creation in Ontario." 

About MaRS

MaRS Discovery District (www.marsdd.com) is a large scale, mission driven innovation centre located in Toronto and networked across Ontario, focused on building Canada's next generation of technology companies. MaRS works closely with entrepreneurs to grow and scale their ventures into global market leaders in life sciences and health care, information, communications and digital media technologies, clean tech, advanced materials and engineering, as well as innovative social purpose business.

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