Developing Data-Driven Social Media Analytics Technology
This Datametrex AI Limited profile is part of a paid investor education campaign.*
Nexalogy utilizes artificial intelligence (AI) and machine learning technology to provide data analytics insights to businesses and government agencies. Nexalogy’s core technology, Nexaintelligence, is a powerful social discovery tool that analyzes millions of data points from social media platforms for our clients. This patented and scalable technology analyzes social media data to find new audiences, trends, risks and voters and removes spam for government agencies and businesses. In addition to social media discovery, Nexalogy has developed a “Fake News Filter” for social media. This technology was developed to help a client to monitor the Canadian Federal Elections.
Datametrex is currently working on numerous government contracts and has completed several milestones for the Canadian Department of Defense’s Innovation for Defence Excellence and Security (IDEaS) program and has recently secured another contract through the program. The company is also a vendor for the US federal government. The company’s social media threat detection technology is also expected to be tested by several NATO partners.
Since launching NexaIntelligence, Datametrex has been focused on improving the platform. The company has added bot and agent detection functions. The platform has also been outfitted with an algorithm that detects false narratives in social media discussions.
Through its subsidiaries, Datametrex has secured contracts with various divisions of LOTTE Group, the fifth-largest conglomerate in Korea and was chosen by Two Lakes Group to be their technology solution provider for projects in Africa. Two Lakes is an international consulting firm that is focused on helping Africa become a global economic hub through a network of trade and diplomacy.
Datametrex’s Company Highlights
- Over three billion social media users worldwide.
- Global social media analytics market to reach $16.37 billion by 2023.
- Global cannabis market to reach $57 billion by 2025.
- One patent granted and another pending approval in the US and Canada.
- Approximately C$3 million in contracts secured to date.
- Vendor to the US federal government, which spent approximately $85 billion on technology in 2018.
- Led by an experienced team of operators and capital market professionals.
- Management notably holds 30 percent of company shares.
Social Media Analytics
There are over three billion social media users across the globe. Social media is one of the most widely-used marketing tools used to gain actionable insights from consumers on products and services. Many public and private entities use social media to market their products to consumers, build brand awareness and gauge public opinion on products and trends, among other applications.
According to a Research and Markets report, the global social media analytics market is expected to reach $16.37 billion by 2023. The growth of the market is due to the increasing number of social media users and spending on analytics.
Social media analytics combines monitoring, measurement and analysis tools to uncover user sentiment and identify key trends in the market. These tools allow users to decipher vast amounts of data from various social media platforms, such as Facebook (NASDAQ:FB), Twitter (NYSE:TWTR) and Instagram, to determine customer sentiment about brands and trends, customer concerns, the efficacy of marketing campaigns and competitor intelligence.
However, social media can be abused by those wishing to spread misleading information that can affect perceptions of important issues, such as elections. This has created the need for interactive platforms that detect deceptive posts.
Nexalogy is Datametrex’s wholly-owned subsidiary and is aimed at disrupting the social media intelligence market by offering advanced intelligence functionality. Nexalogy has a patented technology with a second patent pending in Canada and the US.
The technology is offered as a software as a solution (SaaS) to government agencies and retail brands and has applications for internet of things (IoT) smart cities. The company has a growing presence in Asia and Europe and has diversified its revenue streams by targeting small-cap public companies with ad buy offerings.
Nexalogy’s technology utilizes a social discovery engine that analyzes data to find new audiences, trends, risks and voters and removes spam. The technology has applications for companies and government agencies wanting to understand their influence online and identify fake news.
To date, Nexalogy collects data from over 500 million tweets a year and has access to over 85 million blogs and 8.8 million Facebook pages, giving Datametrex an advantage when analyzing profiles and other unstructured data and when marketing itself to companies and government agencies.
The discovery engine uses conversation sculpting and algorithm clustering to provide insights and cleans unstructured text. The algorithms are also able to identify themes, people, relationships, topics and content, which can be filtered out to deliver the most relevant content. Datametrex uses interactive visuals to display the collected data.
The technology is a scalable distribution system that cleans and processes data from various sources on the web to produce reports and visualizations. Datametrex can scale the platform to include the ever-increasing social data generated on the internet, especially in the wake of significant events or unforeseen developments.
Fake news application
Datametrex has developed, NexaIntelligence, a solution that identifies fake news. The solution incorporates a semantic dimension analysis, which shows users the overall sentiment on the internet towards specific posts and topics.
“We are thrilled to be first movers in this space. Fake news is a serious problem for both the public and private sectors, and we look forward to offering our solutions to help combat misinformation,” said Datametrex COO and President Jeff Stevens.
The solution ranks content sentiments in over 100 categories and looks for foreign misinformation and propaganda in social media conversations, which could affect politics or prominent social issues.
To date, the company has successfully identified multiple sources of fake news on social media through various initiatives and programs.
Since launching the platform, Datametrex has made several improvements to the technology. The company has added a bot and agency actor user interface to help identify fake accounts on social media that aim to propagate messages to influence public opinion. Datametrex has also developed an algorithm that tracks false narratives in social media discussions that focus on a region or a particular topic.
“These technology developments are a major milestone for the company. Datametrex will be one of a select few AI companies that can offer this type of analysis and detection for governments, military, media, marketing and data collection agencies and corporations to identify and manage fake news. We will never be able to prevent fake news and propaganda so having powerful tools to identify and manage the narrative is key for all stakeholders,” said Stevens.
To help Datametrex breach the global military market, the company has retained One 9 Investments, a company with over 70 years of post-9/11 military experience. One 9 Intelligence’s network extends into the branches of the government responsible for intelligence and national security community.
Nexalogy’s Partnerships and Clients
Datametrex is continually forming partnerships in various industries to expand its social networks and data points. The company has partnerships in place with multiple discussion forums, blogs and news sites, among others.
US Federal Government
In January 2019, Datametrex became an approved vendor to the US federal government. In 2018, the US government spent approximately $85 billion on technology, providing the company with a substantial opportunity to expand its services in the US.
“Nexalogy’s expertise in the areas of social media monitoring and intelligence, fake news filtering and other machine learning applications are in great demand from government agencies and other organizations. Datametrex through its Nexalogy division is well-positioned to capitalize on these accretive opportunities in Canada, US and internationally,” said Datametrex Chairman and CEO Andrew Ryu.
Datametrex secured its first sale in the US in May 2019.
Canadian Department of Defense IDEaS Program
Datametrex is participating in the Canadian Department of Defense’s IDEaS platform, a 20-year, $1.6 billion program that invests in defense and security innovations.
“The IDEaS program will provide unique opportunities for Canadians to put forward their best solutions on defense and security challenges and will help put those solutions into the hands of the women and men of the Canadian Armed Forces. This investment will support the growth and expansion of Canada’s innovation community for the next 20 years,” said Canadian Minister of National Defense Harjit S. Sajjan.
The company has completed its first and second milestones in the program totaling approximately C$1.15M. The money is dedicated to further developing the Nexalogy SMART technology, while also expanding its fake news and narrative detection technology. If the company is successful in completing this project, it could be eligible for additional funding to continue the development of the product.
“This is a solid validation of the work Nexalogy is doing to help secure the safety of Canadians from cyber threats. Working with the Canadian government to build new tools that will be utilized by the military and then be applied to the corporate environment is a key driver for technical advancement in our country,” said Ryu.
Korea Press Foundation
Datametrex has secured an initial one-year contract with the Korea Press Foundation (KPF), a non-profit organization for the media and public interest sector. Under the terms of the agreement, Datametrex will be implementing its NexaIntelligence and fake news filter across a variety of content and media channels to help the KPF ensure the viability and integrity of the traditional and social media content the organization publishes. The AI technology will also deliver more targeted constituents and press members across Korea.
“This is an exciting opportunity for Datametrex and its product portfolio. Bringing our artificial intelligence to social media and content platforms through an organization like the Korean Press Foundation only further validates our capabilities. The leading social media hubs can leverage the distribution channels of this Institute in Korea allowing us to be part of a key integration process,” said Ryu.
Datametrex has secured a contract with HomePlus, the second-largest retailer in South Korea, for predictive analysis. HomePlus operates a supermarket chain that is comprised of 365 convenience stores and an online shopping service. The retail operation offers everything from groceries to clothes and appliances. Under the terms of the agreement, Datametrex will be deploying its NexIntelligence solutions in several departments that have a strong requirement for AI and predictive analysis.
“To be selected by such a large retailer for our solution is compelling and will open up a lot of opportunities in the predictive analytic space. The need for AI and machine learning plays a key role in analyzing various data formats that retailers collect and is a major technology initiative at HomePlus.” said Ryu.
Datametrex has licensed its Nexalogy artificial technology software platform to GreenInsightz Limited for $1 million.
“We are excited to work with GreenInsightz to assist in their commercialization efforts. AI and machine learning technology will play a vital role in analyzing unique data sets across various industries. We believe there is a great opportunity for Datametrex in licensing our unique and powerful technology to companies like GreenInsightz,” said Stevens.
Datametrex’s Management Team
Marshall Gunter — Chief Executive Officer
Mr. Gunter’s engineering background is rooted in big data analysis and machine learning at scale. Working with Sequoia Capital and Lightspeed Venture Partners, Marshall was responsible for bringing Varagesale to the mass market. Marshall took Varagesale from a one room shop to a powerhouse engineering department of 60 plus people and played a leading role in their $35-million-dollar raise. Marshall lead the team that built iSentium’s sentiment engine. iSentium uses patented Natural Language Processing (NLP) to extract sentiment from unstructured social content then instantly transforms it into highly actionable indicators in finance, brand management and politics, handling billions of data points to harness the power of the masses as they tweet and text.
Jeff Stevens — President
Jeff Stevens brings over 18 years of professional experience in the Canadian capital markets, largely focusing on raising capital for micro-cap and small-cap companies. He currently sits on the board of two public companies assisting with project selection and financing. He has worked on the retail, buy and sell sides of the industry, having held positions as Assistant Investment Advisor, Arbitrage Trader and was the head of two sales and trading desks for a US-based investment bank in Toronto. During his tenure, he was involved in raising over $500 million for public and private companies with a client base including institutional money managers, hedge funds, mutual funds and family offices in Canada, the US and Europe.
Steve Kang — CFO
Steve Kang is a seasoned finance and accounting professional. He has acquired a wealth of finance expertise and experience over 25 years from working at Honeywell, LG Electronics and various accounting firms and public companies in Canada. He served as a VP Finance of Loyalist Group Limited, which was nominated as the top TSXV company in 2013, ranked fourth in 2014 and was the top pick of the street in 2014. Most recently, as CFO and VP finance, he spearheaded Datametrex qualifying transaction with Everfront Ventures Corp. (currently Datametrex AI Limited) in June 2017 and Datametrex is now a listed company on the TSXV. He has attained a B.A. in Economics from Korea University and has obtained Certified Management Accountant (USA) and Chartered Professional Accountant, CGA (Ontario) designations.
Edward Choi — Sales Lead (South Korea)
Edward Choi joined the company in June 2020 to head up the sales team in Seoul, South Korea. Edward was a Vice President at LOTTE for leading Lotte’s cyber security division.
Andrew Ryu — Chairman
Andrew Ryu is a seasoned and experienced entrepreneur and operator in public and private companies with over 20 years of experience. Graduate of McMaster University and University of Toronto. He is the founder and CEO of TLA Inc., president of business development of Archer Education Group and founder and former CEO of Loyalist Group Limited (TSXV: LOY), which was nominated as the top TSXV company in 2013, ranked fourth in 2014 and was the top pick of the street in 2014. He was nominated of EY Entrepreneur of the Year in 2014. He served as interim CEO and Chairman of Graph Blockchain Inc. (CSE: GBLC). As a founder of the Company, he served as CEO from 2016 until recent.
Charles Schade — Director
Charles Schade is a senior level marketing executive in the insights industry, with a proven track record for strategically identifying opportunities and launching new products successfully. He leads, motivates and attracts high-performance teams by inspiring staff and committing to ongoing coaching and mentoring. As a founder and former President of NPD Canada, and with over 25 years of sales and servicing experience, takes ownership of goals for companies and clients. He embraces industry leadership roles through speaking engagements at industry functions.
Janeen Stodulski — Director
A graduate of Brock University, Janeen Stodulski received her CPA designation in 1999, her MBA from Queen’s University in 2002 and recently completed her in-depth taxation with CPA Canada. She brings over 28 years in diverse tax, financial and business consulting experience to the table. She has gained extensive accounting experience through her senior roles in public practice and C-suite roles in a variety of companies. Her extensive expertise allows her to provide outside the box strategies and solutions in addition to comprehensive accounting services.
With love for technology, she brings a special focus to cloud accounting solutions. She is the innovator of the Grant Thornton Cloud Accounting solution and is currently working as the Client Service Director for Grant Thornton. She has received numerous awards and appointments during her career, including an appointment to the Prime Minister’s Task Force on Women Entrepreneurs, Ontario and Chapter Distinguished Service awards with CGA, Royal Bank Women Entrepreneurs finalist and Oakville Community Environmental Award.
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