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Sysomos acquired

News has leaked out today that Toronto-based Sysomos, a social media monitoring firm, has been acquired by MarketWire.

As usual, the terms of the deal are not being disclosed, but we do know that, like BumpTop, Sysomos was funded out of the Growthworks Commercialization fund. That would put this deal at well north of $25million, likely landing in at around $35million.  Sysomos was also funded by Ontario Centres of Excellence, who were also instrumental in supporting BumpTop. In fact, like Bumptop, Sysomos also originated at the University of  Toronto and does retain some useful and unique IP.

This is the second exit for Scott Pelton, who only took over managing the Growthwork’s comm fund in 2008. By Canadian VC standards (or any for that matter), he is on fire and, by my estimate, is chalking up one of the best IRRs that the business has seen yet in this country. Who says VC is dead?

Sysomos has made rapid progress since taking investment and has managed to consistently raise the bar of social media monitoring standards. No doubt that MarketWire is looking for ways to develop beyond their more traditional media monitoring solution to something that offers more social media coverage. Sysomos’ strong analytics capability will no doubt be useful to MarketWire customers as well.

25 Comments

  1. Thanks to those of you that have found out about the good news!!
    More official information and the official announcement will be coming later this week.
    We were going to try to keep it a secret for a little while longer, but you can't stop the cat once it pokes its head out of the bag.
    We're really excited!

    Cheers,

    Sheldon, community manager for Sysomos

  2. thanks everyone. Nick, Nilesh and the whole team at Sysomos deserve all the credit. They all built a great company with some very innovative and timely IP

    GrowthWorks would love to fund more great entrepreneurs and business ideas .. please get in touch…

    Scott / @spelton

  3. Congratulations to everyone at Sysomos. Thanks for setting the bar so high for the rest of the start up community.

  4. thanks everyone. Nick, Nilesh and the whole team at Sysomos deserve all the credit. They all built a great company with some very innovative and timely IP

    GrowthWorks would love to fund more great entrepreneurs and business ideas .. please get in touch…

    Scott / @spelton

  5. Congratulations to everyone at Sysomos. Thanks for setting the bar so high for the rest of the start up community.

  6. How did you arrive at the $35 million acquisition figure. That seems a tad high. Also Growthworks invested $900k into them. That hardly qualifies as VC. Just sayin!

  7. How did you arrive at the $35 million acquisition figure. That seems a tad high. Also Growthworks invested $900k into them. That hardly qualifies as VC. Just sayin!

  8. Disclosure: I am the SEM and Social Media Specialist @Marketwire.
    We are extremely excited about the Sysomos acquisition. We are focused on providing our customers innovative, useful, and impactful resources. We are most than just a newswire, we're a communications platform.

    We are extremely excited about the Sysomos acquisition. Marketwire has always been focused on providing our customers with innovative, useful, and impactful resources that help them exceed their communication goals. We’re much more than ‘just a newswire’, we’re a communications platform, and this combo is awesome.
    Nick @shinng
    http://www.facebook.com/marketwire
    http://www.twitter.com/marketwire
    http://www.marketwireblog.com

  9. Disclosure: I am the SEM and Social Media Specialist @Marketwire.

    We are extremely excited about the Sysomos acquisition. Marketwire has always been focused on providing our customers with innovative, useful, and impactful resources that help them exceed their communication goals. We’re much more than ‘just a newswire’, we’re a communications platform, and this combo is awesome.

    Nick @shinnghttp://www.facebook.com/marketwirehttp://www.twitter.com/marketwirehttp://www.marketwireblog.com

  10. Sysomos has made rapid progress since taking investment and has managed to consistently raise the bar of social media monitoring standards.

  11. OK, anyone want to put some detail around the $25 MM number – which seems WAY TOO HIGH to me.

    TO’B

  12. OK, anyone want to put some detail around the $25 MM number – which seems WAY TOO HIGH to me.

    TO’B

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