Syncapse Corp.

Syncapse Corp.

October 06, 2010 10:00 ET

Syncapse Corp. Raises Funds for Development of Social Media Technology Platform

Global Leader in Social Media Technology Secures $2 Million in Financing From Business Development Bank of Canada

TORONTO, ONTARIO--(Marketwire - Oct. 6, 2010) - Syncapse Corp., a global leader in social media technology, today announced the successful completion of a $2 million round of financing from the Business Development Bank of Canada (BDC). The funds will be used for further development of Syncapse's award-winning suite of technology products for global marketers.

This announcement follows Syncapse's first round of private equity financing in which the company raised $3.3 million USD. The initial funds raised were used to fuel Syncapse's global expansion and invest in product development for SocialTALK™, the leading social media management software for brand marketers and agencies. Syncapse invested nearly $10 million in product development in 2010 and is on track to invest a similar amount in 2011.

Syncapse's Board of Directors includes Rob Burgess, former CEO of Macromedia Inc., and Ian Giffen, Chairman of The Descartes Systems Group Inc. and a Director of MKS Inc., Absolute Software Inc., and Ruggedcom Inc. Syncapse's growth plans for the remainder of 2010 include adding more talent in the areas of sales, technical development and marketing, launching several major social campaigns for clients, and announcing the appointment of new members to its Board of Directors.


"Syncapse is committed to building best-in-class software solutions to help brand marketers and agencies build, manage and measure their customer relationships," said Michael Scissons, President and CEO, Syncapse. "This funding will accelerate research and development for our growing suite of products."

"BDC strongly believes in supporting companies that are setting the agenda for growth in rapidly expanding sectors," said Robert Duffy, Managing Director at BDC. "Syncapse's early successes demonstrate the strength of its business plan and the vision of its management team. We look forward to its continued global expansion."

About Syncapse Corp.

Founded in 2007, Syncapse Corp. has quickly become the global technology leader in social media by delivering social technology solutions that empower brands and agencies to cost effectively build, manage and measure their digital customer relationships. A member of Facebook's Preferred Developer Consultant program, Syncapse's suite of solutions has connected brands with over 60 million consumers globally, delivered tens of millions of dollars in earned media value and has been recognized as one of the top social technology providers for brand marketers. In 2010, Syncapse was named to the PROFIT Magazine HOT 50 Emerging Growth Companies, one of Deloitte Tech Fast 50 Companies-to-Watch, a finalist for Ernst & Young's Entrepreneur of the Year, and one of North America's 50 Most Engaged Workplaces by I Love Rewards. Syncapse employs 140 passionate social technology practitioners in Toronto, New York, London and Portland. To learn more visit

About BDC

BDC is Canada's business development bank. From more than 100 business centres across the country, BDC promotes entrepreneurship by providing highly tailored financing, venture capital and consulting services to entrepreneurs. Visit for more information.

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