OMERS Ventures Invests $500K in Halifax’s LeadSift

Canadian startup LeadSift has secured $500,000 in financing from OMERS Ventures.

The Halifax-based company mines social media data to generate high-quality sales leads and will use the new funds for product development, sales and marketing and hiring.

LeadSift helps sales and marketing professionals to identify and pursue sales leads more efficiently. Using a proprietary algorithm, LeadSift has found a way to sift through the millions of conversations that take place online every day.

If a consumer is looking for information on a specific product, LeadSift will identify that. And if they’re ready to purchase, LeadSift will identify that too. LeadSift was recently named one of the most enterprising new companies in digital marketing, winning the Startup Spotlight Series award in the GE Data & Analytics Category at the prestigious Ad:Tech event in New York.

LeadSift is currently in beta testing with clients in the automotive, consumer electronics, travel and tourism industries. Currently focused on Twitter and Foursquare data, LeadSift plans to expand its lead identification algorithm into different data sources like comments, forums and blog posts. LeadSift is also looking to provide their lead identification algorithm to other platforms and have already partnered up with SalesForce Marketing Cloud.

“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.”