|[April 10, 2018]
Barclays, Bpifrance and CLSA Invest in Symphony
Symphony Communication Services, LLC, today announced it has raised $67
million in new capital. New investors Barclays; Bpifrance, the French
investment bank; and CLSA, along with a group of existing investors,
participated in the round. This brings Symphony's total capital raise to
date to over $300 million from the world's leading financial services
firms, global venture capital funds, and technology companies.
Symphony's secure team collaboration platform has reached critical mass
with over 300 firms and 320,000 users. The raise validates Symphony's
leadership position in financial services and will enable the company to
accelerate its product roadmap, expand its core offering for financial
institutions and broaden its reach to other regulated and data-sensitive
The company's expansion into new market segments including insurance,
legal, healthcare services and government will be accelerated by its
This capital investment and new strategic investors;
Strong demand for secure and compliant solutions in information
The uptake of Symphony Meetings, secure real-time collaboration suite
with encrypted audio, video conferencing, application and
screen-sharing designed in partnership
for regulated users; and
A cutting-edge developer
platform which enables customers to reach their digital
transformation goals through new apps, smart bots and applications
"Investor interest in accelerating Symphony's growth has remained strong
since our founding, and we are very pleased to welcome these
institutions t our strategic investor community. Barclays, Bpifrance
and CLSA provide both capital and strategic leverage which will enable
Symphony to further accelerate the growth of our network, and create
comprehensive workflow capabilities with our open and secure platform,"
said David Gurlé, founder and CEO of Symphony. "As our enterprise
customers increasingly migrate their users to Symphony, we are seeing a
shift from legacy tools to our platform. Our customers are choosing
Symphony to build their digital transformation initiatives, taking
advantage of streamlined enterprise workflows."
On the heels of Symphony's third anniversary, this investment marks
exceptional growth for the company which saw a rapidly growing customer
roster, increase in user adoption and strategic partner
momentum. Over the past year, the company has grown its global presence
significantly, opening offices in Tokyo, Japan; Stockholm, Sweden; and
Sophia-Antipolis, France to both service its growing community of users
and tap into global technology talent.
"We are excited to support the growth of Symphony with this investment,"
said Guy Saidenberg, Head of Distribution and Structuring at Barclays.
"Symphony's unique, secure and compliant workflow platform has the
potential to drive meaningful transformation in our industry for us and
"The team at Symphony is revolutionizing the way the business world
communicates," said Paul-Francois Fournier, executive director of
Innovation, Bpifrance. "Symphony has received tremendous interest from
every industry for its game-changing technology. We are excited to
support Symphony's next stage of growth, in particular to ensure the
success of its new research and development center in Sophia-Antipolis."
"As the first Asia-headquartered institution to deploy Symphony across
its global network, we have seen the benefits Symphony brings to
improving communications throughout our business," said CLSA's Global
CIO, Max Nam-Storm. "We believe Symphony's workflow platform is highly
differentiated and disruptive to the industry and for this reason we
have invested into Symphony; to ensure the company's growth momentum and
to actively contribute to the Symphony community in Asia."
Symphony transforms the way users communicate effectively and securely
with a single workflow application. Forging a new path in the industry,
Symphony is designed to help individuals, teams and organizations of all
sizes improve productivity, while meeting complex data security and
regulatory compliance needs. Symphony was founded in October 2014 and is
headquartered in Palo Alto, CA (News - Alert), with offices in New York, Hong Kong,
Singapore, Tokyo, Stockholm, Sophia-Antipolis and London.
For more information, visit www.symphony.com
and connect with Symphony on Twitter,
View source version on businesswire.com: https://www.businesswire.com/news/home/20180409006512/en/
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