*A correction was made to this story.
Toronto – Syncapse, a developer of social media technology,
announced on Wednesday that it has raised $2 million in new financing from the
Business Development Bank of Canada.
Founded in 2007, Toronto-based Syncapse
offers social media management software for brand marketers and agencies.
The
company raised $3.3 million in a first round of private equity financing
earlier this year, and says it invested nearly $10 million in product
development in 2010.
Syncapse will use the new funds for further product
development, and to hire additional sales, technical development and marketing
staff.
*Correction: An earlier version of this story incorrectly stated the amount raised as $4 million.
Related Links:
http://tinyurl.com/24y6xv5
http://www.syncapse.com
Hi Mark,
Thanks for covering this announcement. Just to clarify, the amount of financing we received was $2 million Canadian. Here is a link to the press release: http://www.marketwire.com/press-release/Syncapse-Corp-Raises-Funds-for-Development-of-Social-Media-Technology-Platform-1330725.htm
Any questions, please let me know 🙂
Thanks,
Meg
PR Manager @Syncapse