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Text Analytics Startup Synapsify Raises $600,000 Seed Round with Strategic Investment

BETHESDA, Md., Feb. 26, 2013 /PRNewswire-iReach/ -- Text analytics startup, Synapsify, Inc., announced today it has raised $600,000 in seed funding which included a strategic investment from ICG Ventures Inc., an Ingram Content Group company. Other investors in the Company include Fortify Ventures, Middleland Capital and a select group of angel investors.

(Photo: http://photos.prnewswire.com/prnh/20130226/CG66435)

Through its patented text analytics and search technology, Synapsify empowers its clients to understand and curate written content based on hundreds of dimensions including quality, credibility, themes and intent.  The breakthrough technology uses artificial intelligence that learns and adapts to each piece of text with human-like qualities, resulting in significant cost savings and the delivery of unique, actionable insights. Synapsify is available via an API and software as a service.

"The world has become overwhelmed with written content that can no longer be curated and understood solely by costly human moderators or easily gamed social voting features. Our patented text analytics technology goes beyond simple keyword mentions or one dimensional positive, negative or neutral classifications, bringing value to the market in a new and exciting way," said Stephen Candelmo, CEO and Co-Founder of Synapsify.  "We are thrilled to be working with Ingram and our other valued investors to  maximize the impact and distribution of our ground-breaking product."

Synapsify, which was a member of the inaugural class of the Fort, Washington DC's first start-up accelerator, is targeting the beginning of Q2 2013 for the public release of its product offering and the announcement of its initial group of enterprise customers.

About Synapsify, Inc.

Synapsify believes that smarter content leads to a smarter world for its clients, partners and their customers. Through its patented text analytics and search technology, the company unlocks the DNA of any type of written content through the identification of sound and metaphor. It is groundbreaking, intelligent software that reads and analyzes with human-like qualities that empowers its users to understand and curate their written content like never before. What Intel is to hardware, Synapsify is to content. For more information, visit www.gosynapsify.com.

About Ingram Content Group

Ingram Content Group Inc. is a subsidiary of Nashville-based Ingram Industries Inc. The company provides books, music and media content to over 39,000 retailers, libraries, schools and distribution partners in 195 countries. More than 26,000 publishers use Ingram's fully integrated physical and digital distribution, logistics, and manufacturing solutions to access global consumer demand, and realize the full business potential of book content. Ingram's operating units are Ingram Book Company, Lightning Source Inc., Vital Source Technologies, Inc., Ingram Periodicals Inc., Ingram International Inc., Ingram Library Services Inc., Spring Arbor Distributors Inc., Ingram Publisher Services Inc., Tennessee Book Company LLC, Coutts Information Services, and ICG Ventures Inc. For more information, visit www.ingramcontent.com

Media Contact: Stephen Candelmo Synapsify, Inc., 301-385-3469, [email protected]

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SOURCE Synapsify, Inc.

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