Symphony Raises $63M to Accelerate Both Global Expansion and Platform Innovation
Addressing market demand for an effective communication platform and more efficient workflows, disrupting traditional email and conferencing
PALO ALTO, CA, May 16, 2017
Symphony Communication Services, LLC today announced it has raised $63 million in new capital to accelerate global adoption, propel platform innovation and expand into new markets. BNP Paribas led the round, along with additional investment by a majority of Symphony’s existing shareholders. Symphony previously raised a total of $170 million from the world’s leading financial firms, venture capital firms, and Google.
Symphony enables businesses to provide best-of-breed collaboration technology to their employees, while driving efficiency and ensuring security and compliance. Enterprise customers can now centralize all workflow in a single platform, using Symphony as a replacement for traditional email and voice systems to securely communicate with internal and external teams, share documents and content, and conduct meetings with conferencing and screen-sharing. Symphony’s success is a direct result of its powerful platform, customizable user experience, and open partner ecosystem which delivers a large and growing market of applications and integrations.
User adoption has organically spread at the world’s top companies as the platform’s hundreds of thousands of licensed paying users have validated its benefits. Symphony customers are able streamline and automate workflows through the use of integrated applications and bots, dramatically improving the way professionals engage with colleagues, clients and workflow applications. Symphony accelerates business, drives productivity, and delivers a more engaging client experience.
“We are thrilled to have the support of our new and existing investors as we accelerate global platform adoption,” said David Gurlé, founder and CEO of Symphony. “This financing is a recognition of the value our customers have experienced as the Symphony community has grown. Our customers’ desire to make Symphony their central platform and replace legacy tools is an endorsement of the efficiencies brought by an integrated collaboration platform and streamlined workflow.”
“Digital transformation is central to BNP Paribas Global Markets’ strategy, and collaboration with fintechs is a crucial part of that process. Forming agile partnerships with exciting and innovative companies like Symphony helps us deliver an exceptional service to clients, and remain their partner of choice in a changing world,” said Olivier Osty, Executive Head of Global Markets, BNP Paribas.
Symphony will use the new capital to accelerate expansion, to drive growth in both its current and new markets, and further build out its feature stack to deliver a new wave of innovation to enterprises and replace traditional collaboration tools.
Symphony is the cloud-based messaging and collaboration platform that connects markets, organizations and individuals, securely. Powered by an open and growing app ecosystem, and protected with customer-owned encryption keys, Symphony’s communication platform increases workflow productivity while maintaining global regulatory compliance. Already the platform of choice for the financial services industry, Symphony eliminates inefficient workflows to boost productivity in information-driven businesses. Founded in October 2014 and headquartered in Palo Alto, CA, the company has offices in New York, Hong Kong, Singapore and London.
To sign up for Symphony, find out more about the company and keep up on the latest news, visit symphony.com and follow @Symphony.