Syncro has been through a big transition the past year. Where is the focus now?
Syncro underwent a big transition last year as we focused the company around our new SaaS platform Collabs. Developing the software was intense work, but after launching in the fall, positive feedback from customers and others in the market has been overwhelmingly positive. Syncro is now properly positioned and has the right tools to truly take advantage of the booming influencer marketing segment. We have 100 percent of our focus on scaling, so the more brands that trust us to help manage their campaigns the better. This will drive revenue and boost profitability. It’s been intense work, but the company is now in a fantastic position.
The company launched the Collabs platform late last year. How is it being received by the market?
Our SaaS platform Collabs is the heart of Syncro. We are unique in how much first-hand data we have gathered and this is critital to supporting our customers with the most targeted influencer marektign campaigns possible. Customers appreciate the data-driven focused targeting as this is critical to ensuring they get the best return possible on their ad spending. We’ve actually turned the head of global tech companies, too. They were surprised at the scope of accessible data and functionality of the Collabs software.
The influencer marketing market is growing fast. How does Syncro take advantage of this?
I’m always a bit surprised myself when I look at how large this market has grown over the years. The global market for influencer marketing is expected to reach 230 billion kronor in 2024, according to industry research. We know the market is massive and rapidly expanding, and now our Collabs platform is ready with new customers plugging in all the time. Syncro is working hard to strike partnerships with media agencies as we have already done with one of Sweden’s highly-ranked bureaus called Perfect Fools which will use Collabs with its customers. We also want to partner with technical platforms as we did with Epinova, primarly for the platform Optimizely. This allows us to integrate Collabs into their e-commerce system, so they know when an influencer has engaged in a company’s online store. The scaling potential is huge.
Scaling is key for Syncro now. How do you do this?
Yes, scaling is critical for us now. We spent the time and money to build Collabs from the ground up and it is time for growth. Our strategy is in place and we know which type of type of customer will help us scale the fastest. Because Syncro is a SaaS business, each new customer that joins gives a welcome boost to our bottom line. We clearly see how the month looks better than the last. And now we have Mårten Barkman set to join our board of directors. He has a superb trackrecord at global tech companies such as Paypal, Facebook and Google. His experience will be a welcome addition to our growth journey.
Syncro is in the process of raising funding now. What will this be for?
Growth costs money. We have the Collabs platform completed, which was a heafty but critical investment. Now we need to spread the word across the Nordics and abroad to bring additional media bureaus and brands to the platform. I am a passionate and committed shareholder myself, but I am confident this extra funding will be wisely used to boost our growth and help Syncro reach its potential.