Syncapse Scores $25 Million In Venture Funding

By Jackie Cohen Comment

Social media developer Syncapse just got $25 million in venture funding from ABS Capital Partners, which has closed all but $5 million of the transaction.

Based in Toronto, Syncapse has some big-name customers like Electronic Arts and Research In Motion using the platform and analytics that incorporate Facebook and a wide assortment of social media and online publishing outlets.

The company’s press release calls ABS Capital a growth equity investor that has placed partners Ralph Terkowitz and Deric Emry on Syncape’s board of directors.

Syncapse also calls ABS the first institutional investor in the development company; the latest transaction brings total funding up to $30.3 million. Previous investments have included a $3.3 million Series A round in May 2010, plus a $2 million Series B round from the Business Development Bank of Canada this past October.

The company plans to use the new funds to invest in sales, marketing and product development for the Syncapse Platform, which was formerly called SocialTALK. Since forming in 2007, the Facebook preferred developer now employs 150 people in Toronto, New York, London and Portland. This includes the September acquisition of Nudge.