Barclays joins Symphony Communication’s $67m funding round

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fintech insurtech wealthtech regtech ai cybertech esg news

Symphony, which enables financial services companies to communicate effectively and securely, has raised $67m.

New investors Barclays, investment bank Bpifrance, and CLSA, along with a group of existing investors, participated in the round. The latest fundraise brings Symphony’s total capital raise to date to over $300m, having previously raised $63m in May 2017. Its previous investors include Goldman Sachs, Deutsche Bank, Bank of America, Google, BNP Paribas, HSBC, Blackrock and JP Morgan, among others.

Symphony’s secure team collaboration platform has reached over 300 firms and 320,000 users. Having established a leadership position in financial services, the new funds 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 industries.
It plans to expand into new market segments including insurance, legal, healthcare services and government.

“Investor interest in accelerating Symphony’s growth has remained strong since our founding, and we are very pleased to welcome these institutions to our strategic investor community,” said David Gurlé, founder and CEO of Symphony.

“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. 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.”

Symphony was founded in October 2014 and is headquartered in Palo Alto, CA, with offices in New York, Hong Kong, Singapore, Tokyo, Stockholm, Sophia-Antipolis and London. The company looks to help improve productivity, while meeting complex data security and regulatory compliance needs.

It solutions enables users to communicate with internal and external teams, securely share documents and content, conduct meetings with conferencing and screensharing. Users can also leverage open APIs in its growing app ecosystem to streamline and automate workflows.

Symphony holds a number of independent certifications over our security and privacy controls, and bases its security program on NIST and ISO standards. The company has also deployed a strategy for complying with the upcoming EU General Data Protection Regulation.

To comply with global regulations, users can establish information barriers, create expression filters, assign entitlements, monitor rooms, and export content into regulatory record archives via Symphony’s Admin Portal.

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