US-based workplace communication technology developer Symphony Communication Services confirmed a funding round sized at more than $100m and backed by diversified internet technology provider Google yesterday.
The round also featured financial services providers Natixis, Societe Generale and UBS, and venture capital fund Lakestar, as well as existing investors including VC firm Merus Capital. The round valued Symphony at $650m, the Wall Street Journal reported last week.
Symphony was formed in October 2014 with $66m sourced from a total of 14 financial services providers. Its product is based on technology developed by trader communication startup Perzo, and enables teams to communicate efficiently and securely with each other.
Symphony’s service was made commercially available last month and the funding will help it keep up with customer demand and accelerate global expansion.
David Gurle, founder and chief executive of Symphony, said: “This financing is a vote of confidence in Symphony’s value proposition and benefits to business users.
“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.
Symphony’s existing backers include Bank of America Merrill Lynch, BlackRock, BNY Mellon, Citadel, Citi, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, JP Morgan, Jefferies, Maverick, Morgan Stanley, Nomura and Wells Fargo.