Swix Becomes Source Metrics, Wins Funding

In Canada, social media analytics specialist Swix has rebranded as Source Metrics, and has secured $1.6m in funding. The funds are being used to launch an enterprise-level tool integrating metrics and analytics into a single platform which will measure ROI for social media campaigns.

Ottawa-based Swix was set up in 2010 by Shopify co-founder Scott Lake (pictured) to offer an analytics product and marketing campaigns tool. His rebranded firm will provide a 'one-stop-shop' for social media publishing, campaign management and social media monitoring, along with tools to measure campaign return on investment.

The Source Metrics platform analyzes traffic to different pages, which campaigns resulted in clicks, and which social media sites they originally came from, alongside individual tweets or posts from Twitter, Facebook and LinkedIn and information about re-tweets. This data is then analyzed to uncover which elements of a campaign are driving the most conversions.

Additionally, through the firm's online dashboard, social marketers can fine-tune their campaigns in real-time, and add information on their campaign costs.

Lake has raised the funds from Canadian VC firm Growthworks and government agency FedDev Ontario.

Web site: www.sourcemetrics.com .