ABS Capital Teams Up With Syncapse Corporation
TORONTO & NEW YORK – February 24, 2011 – Syncapse Corp. (“Syncapse” or the “Company”), a provider of cloud-based software and strategic services to help enterprises build, manage and measure their social media presence, today announced that ABS Capital Partners, a leading growth equity investor has committed to invest $25 million in the Company; $20 million of which has already closed. ABS Capital is the Company’s first institutional investor. Syncapse will use the funds to invest in sales, marketing, and product development for the Syncapse Platform™. As a result of the financing, ABS Capital General Partners Ralph Terkowitz and Deric Emry will join Syncape’s board of directors.
“Syncapse provides a unique experience because we equip large global enterprises with a Platform and analytics to standardize, scale and measure their entire social media presence,” said founder and CEO Michael Scissons. “This investment will allow us to continue to expand services for our clients and further develop pioneering technologies that meet the needs of leading brands and their marketing teams.”
Because social networks were designed for posting by individuals, they do not offer the management tools necessary to support the workflow or publishing requirements of a global enterprise. The Syncapse Platform combines social media publishing, customized workflow, content management and analytics. The Company’s professional services and agency relationships complement the Platform, creating a full service social media management offering. In October 2010, the Company added David Nelson-Gal as its Chief Product Officer to lead its team developing new products around the Platform. David has led many teams in content, community, mobility and systems solutions for enterprises for over 25 years. He has also held executive positions at numerous global technology companies, most notably Sun Microsystems and Interwoven.
“Syncapse provides the entire package of technology and services, which is important to global brands. They are quickly recognizing that social media is not merely a trend, but an area where consumers and businesses alike are spending a large part of their time,” said Ralph Terkowitz of ABS Capital. “As we spoke to the Company’s customers and industry leaders, it became clear that Syncapse offers the leading solution for large enterprises.”
Syncapse’s suite of enterprise solutions helps organizations such as BlackBerry®, Electronic Arts and others effectively manage and scale their social media marketing efforts across disparate social media channels like Facebook, Twitter, Orkut, YouTube, WordPress and MovableType. The Platform connects enterprises with millions of consumers worldwide, enabling corporations to create and maintain meaningful and mutually beneficial relationships with their customers. Syncapse also delivers critical analytics that enable chief marketing officers to measure their return on investment in social media marketing.
RBC Capital Markets acted as the sole placement agent to the Company for this Offering.