Syncapse Gets $25 Million in Funding from ABS Capital For Enterprise Social Marketing
Enterprise social media marketing platform and service provider Syncapse has closed a $25 million Series C funding round with ABS Capital. CEO Michael Scissons tells us the money will go towards accelerating development of its platform and expanding its global services group.
Syncapse is one of the biggest companies in the Page management, custom app development, and social measurement space, with over 150 employees, including over 40 in Europe. The Syncapse Platform, formerly SocialTalk, lets clients build and manage Facebook Pages, Facebook applications, YouTube channels, Twitter accounts, blogs, and handle conversation management, compliance, influence management, and measurement.
In September, Syncapse purchased Facebook app developer Nudge. That team is now building app templates and custom apps for Syncapse’s clients.
Scissons believes that the world’s largest corporations and brands want to work with a reputable company with global presence, opposed to the many smaller companies moving into the space. He explained it took his company a year to get situated in Europe, so he believes the high barrier to the enterprise industry will allow Syncapse to repel the multitude of new entrants.
Clients aren’t signing long term deals with companies like Syncapse because there’s still a lot of potential for disruption. However, Scissions thinks the funding will help it become more established, answer more client needs across channels, and emerge as a leader in social marketing regardless of whether its on Facebook or forthcoming services.
When asked whether Syncapse would consider adding Facebook Ads API services to its offering, as Experian and Vitrue recently have, he explained that he believes most corporations and brands want an agency to handle all their advertising, and so it won’t move in that direction at this time.
With Facebook now allowing Pages to use iframe tab applications, 2011 could be a healthy year for funding and acquisitions in the Page management and social marketing industry as companies look to add iframe apps and other services to their offering. Scissons agrees, but thinks these companies will mostly focus on smaller brands and local businesses. Meanwhile, we see Syncapse and other larger platform and service providers like Buddy Media winning the cash-flush multinationals.