Syncapse Corp., a Toronto, Canada-based social technology provider, leader in the areas of community building, technology solutions, and digital measurement, completed a US$3.3m initial round of private equity funding.
The company will use the funding to invest in the expansion of SocialTALK™, a tool that allows brands to effectively create, publish and measure their content strategy and posting schedules.
In conjunction with the funding, Syncapse is expanding its board of directors with the addition of J. Ian Giffen, who is a seasoned advisor to a number of software companies and technology investment funds.
Mr. Giffen is currently Chairman of The Descartes Systems Group, Inc., and a Director of MKS, Inc., Absolute Software, Inc., and Ruggedcom, Inc.
He has previously served on the boards of a number of private and public companies including Macromedia, Inc. and Corel Corporation, Inc..
In early 2010, the company also opened offices in New York City and Portland, and appointed Kerry Munro, former head of Yahoo! Canada, to the position of Chief Operating Officer.
Syncapse’s plans for the rest of the year include increasing its global workforce to 200 employees, doubling its revenues and investing nearly US$10m into the development of new social technology products.