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Startup LeadSift Secures $500,000 From OMERS Ventures

LeadSift, a Halifax-based start-up that mines social media data to generate high-quality sales leads, has secured $500,000 in financing from OMERS Ventures. This funding round will be used for product development, sales and marketing and hiring.

“There’s a vast amount of valuable data available on social media, but until now businesses haven’t had an effective way to translate this information into actual sales leads. Our online tool enables deep and real-time data analysis, generating a constant stream of high-quality leads and letting businesses instantaneously reach out to and engage with customers,” said Tapajyoti Das, LeadSift President and CEO. “Partnering with OMERS Ventures will allow us to continue to ready our product for commercialization, and lay the foundation for a long-term relationship.”

LeadSift is still in beta mode and is testing their platform with clients in the automotive, consumer electronics, travel and tourism industries. As part of their beta test phase, they are focused on Twitter and Foursquare data, LeadSift plans to expand its lead identification algorithm into different data sources like comments, forums and blog posts.

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