Sysomos Raises Seed Financing

Sysomos is excited to announce it has raised seed capital from GrowthWorks Capital and Ontario’s Investment Accelerator Fund to support the commercialization and sales of its leading-edge social media analytics technology.

“Having GrowthWorks and the Ontario Centres of Excellence as investors is a major stepping stone,” said Nick Koudas, Sysomos’ president and CEO. “It provides us with the financing needed to accelerate our growth and, as important, we have attracted strategic partners who can provide the company with valuable strategic advice and insight.”

Sysomos provides a powerful suite of software services that bring business intelligence to social media. Using contextual text analytics and data mining technology, the company is focused on helping companies effectively and quickly listen, measure, understand and engage with the fast-moving social media landscape.

GrowthWorks made its investment through the Commercialization Fund, which was created to achieve long-term capital appreciation by investing in a portfolio of small and medium-sized Canadian businesses.

“GrowthWorks is excited to invest in Sysomos because we believe it has leading-edge technology to provide companies with intelligence and insight about what happening within the world of social media,” said Tim Lee, senior vice-president, investments with GrowthWorks.

In December, Sysomos was among eight Ontario companies that received financing from the Investment Accelerator Fund, which invests in an early stage seed fund managed by the Ontario Centres of Excellence (OCE) designed to help Ontario-based start-ups and early stage technology companies.

Sysomos’s  technology delivers the next generation of social media analytical services to clients such as public relations agencies, marketers and corporations looking to manage major brands.

Sysomos’ software suite, which was in development for three years, features access to billions of conversations collected over the past three years from blogs, social networks, micro-blogging services, forums, wikis, message boards, video sites and media sources, using contextual analytics and data mining technology.

“The social media analytics market is quickly evolving, and we’re confident Sysomos is well-positioned to become a leading player.”

In December, Sysomos was among eight Ontario companies that received financing from the Investment Accelerator Fund, which invests in an early stage seed fund managed by the Ontario Centres of Excellence (OCE) designed to help Ontario-based start-ups and early stage technology companies.

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