Symphony Raises Over $100M in Financing to Accelerate Global Adoption
Global group of investors back vision of open, secure and compliant workflow application for individuals, teams and businesses
Symphony Communication Services LLC, today announced it has raised more than $100 million in new capital to accelerate global customer adoption. New investors Google Inc., Lakestar, Natixis, Societe Generale and UBS, along with a group of existing investors including Silicon Valley venture firm Merus Capital, participated in the round. Symphony previously raised a total of $66 million from a consortium of 15 leading financial institutions.
Creating a trusted and compliant communications service to help users interact more effectively, Symphony will use the new capital to address the high demand it has received in the past few months leading up to its launch and to speed up expansion of its global operations.
“This financing is a vote of confidence in Symphony’s value proposition and benefits to business users,” said David Gurle, founder and CEO of Symphony. “We are making a major leap toward a safer and more productive method of communication for individuals, teams and businesses. We are delighted to have the support of our new and existing investors to enhance our market leadership.”
On the heels of Symphony’s public launch in September, this investment marks an exceptional year for Symphony, which saw a rapidly growing customer roster, increase in user adoption, strategic partner momentum and key executive appointments.
“We are thrilled by Symphony’s impressive customer momentum,” said Klaus Hommels, partner, Lakestar. “Symphony’s unique, secure and compliant workflow platform has huge potential to transform the industry, which is why we’re making this investment.”
“The team at Symphony is revolutionizing the way the business world communicates,” said Salman Ullah, co-founder and managing director, Merus Capital. “Symphony has received tremendous interest from every industry with a desire for simple and safe communications. As an early investor, we are excited to increase our participation in this round to support Symphony’s next stage of growth.”
“Symphony truly is a game-changer across the industry and we are pleased to support its development and to actively contribute to the creation of the Symphony community,” said Olivier Perquel, member of the Senior Management Committee, Financing and Global Markets at Natixis.
“We believe Symphony’s workflow platform is highly differentiated and disruptive to the industry; we are delighted to invest in Symphony’s growth momentum,” said Chris Murphy, co-global head of FX, Rates and Credit at UBS’s Investment Bank.
Symphony’s roster of new and existing investors includes: Bank of America Merrill Lynch, BlackRock, BNY Mellon, Citadel, Citi, Credit Suisse, Deutsche Bank, Google Inc., Goldman Sachs, HSBC, J.P. Morgan, Jefferies, Lakestar, Maverick, Merus Capital, Morgan Stanley, Natixis, Nomura, Societe Generale, UBS and Wells Fargo.