Founded in 2007 by Michael Scissons, Toronto-based Syncapse has hit a major wall in what was once a very promising social media marketing company. A few days ago CBC received and published an article they had obtained from Scissons about a significant number of layoffs made at the company.
The company first received an angel round of funding in May 2010 of $3.3M and then $25M in a Series A back in February 2011, Syncapse also acquired Clickable in June of last year which significantly added to the company’s head count which prior to the layoffs was 110 people.
Is it too little too late for Syncapse to make a come back? Is Scissons capable of turning around the company he built? Only time will tell on if the window of opportunity is open for Syncapse, especially when you consider that its market competitors have already all been acquired by someone else, Buddy Media (by Salesforce), Vitrue (by Oracle), Involver (by Oracle), Wildfire (by Google)