Social listening platform, Synthesio, has acquired digital marketing platform provider Social Karma.
Social Karma is a startup that developed an SaaS-based model to help digital marketers compare, analyze, and optimize social media performance. Earlier this year, Synthesio disclosed its acquisition of Bunkr.
Synthesio raised over $30 million in total funding and their clientele includes L’Oreal, WPP, Conde Nast and others.
Cofounder and CEO Loic Moisand revealed this is part of a two-year strategy they had put in place to make key acquisitions and buy out companies and technologies that will help transform Synthesio into an exhaustive social listening and analytics platform.
Moisand tracked Social Karma and was impressed with the solution they provided making life for marketers easier and giving quick and interactive analytics that connected with customers, unlike the traditional survey based mechanism. The idea now is to leverage Social Karma and collect consumer data from Facebook.
There won’t be any change in the day-to-day operations of Social Karma’s team as they will continue to operate from Brussels, which will be an addition to Synthesio’s existing locations in New York, Paris, London, and Singapore.
Social Karma CEO Thierry Soubestre commented that the company was formed with the purpose of making the tasks of digital marketers easy so they have quick access to analyze and compare data coming from various social media platforms. He added further that this acquisition will help Social Karma expand and reach a larger audience as they get access to the market that Synthesio has already tapped.