Wall-Street Backed Symphony is Raising About $200 Million for Secure Messaging

symphony_1000x200Symphony a secret messaging is raising up to $200 million in a new round of funding, with a pre-money valuation over $1 billion according to cruchbase. The company is backed by 14 biggest banks on the Wall Street. The funding is expected to come from the existing investors along with government of Singapore. With the money raised Symphony  aims to expand its current services to the finance industry, and other industries such as health care.

Symphony raised $100 million in March 2015 from Google, Lakestar, Natixis, Societe Generale, UBS, and Merus Capital, as well as a consortium of 14 of the world’s largest investment banks and money managers, including Bank of America, BlackRock, Citibank, Deutsche Bank, Goldman Sachs, HSBC, and JP Morgan.

symphony-light-theme-greenThe Wall Street Journal reported that Symphony was raising $100 million back in October. “The company has discussed investments with Singapore wealth funds Temasek Holdings and GIC, as well as US private equity firm General Atlantic”, the report added.  

“We are not seeking new funding,” a spokesperson said. “We are well-funded for our operations and future growth.” Separately, David Gurle, the CEO and founder of the company, confirmed via the spokesperson that were there a round being raised, it would indeed be at above a $1 billion valuation, reported TechCrunch.

Founded in 2014 Symphony works with a vision of a secure messaging for teams, workgroups and organizations of all sizes. Symphony’s secure, cloud-based communications service delivers the next wave in organizational productivity where markets and individuals come together to create vibrant communities in which to share content, insights and opinions without compromising on organizational compliance.

david_gurle_1

David Gurle

Symphony was founded by David Gurle. He is an Author, inventor and leader, David’s ideas have influenced the major trends in enterprise communications over the last 15 years. He defined Microsoft’s unified communications strategy (Skype for Business) and as head of collaboration services at Thomson Reuters introduced federated communications to the financial services industry. Before founding Perzo/Symphony, he was VP and GM of Skype’s Enterprise Business.

Although Symphony has been created specially for the finance Industry, that is not all Symphony wants to work in the coming future. The company is exploring other industries that have similar demands to that of the finance industry. For example, Healthcare is one such area the Company is looking into, but their services can beyond this like the science and education industry.

Reply