David Gurlé, founder and CEO of Symphony

California-based Symphony Communications Services has secured $165 million in a new round led by Standard Chartered, MUFG Innovation Partners Co., Ltd., along with a group of existing and other investors. This brings the total amount raised to $460 million USD.

“Capital Markets’ interest in accelerating Symphony’s growth is as strong as ever, we are very pleased to welcome Standard Chartered and Mitsubishi UFJ Financial Group to our strategic investor community,” said David Gurlé, founder and CEO of Symphony. “This investment establishes an unprecedented coalition of East and West, North to South and unites fragmented communication infrastructure into a mission-critical secure and compliant collaboration platform – an unprecedented global effort to accelerate efficient financial workflows. Symphony’s community is coming together to build stronger connections, automation and expanded customer reach as part of their digital transformation initiatives.”

According to the supplier, Symphony will utilize the new capital in evolving its new Market solutions business and for accelerating its growth in both current and new markets. The funds are expected to assist Symphony in enhancing its feature stack and support its goal of replacing traditional collaboration tools.

“Digital transformation is central to Mitsubishi UFJ Financial Group’s future business, and collaboration with Fintech companies is a crucial part of that process. Forming agile partnerships with exciting and innovative companies like Symphony helps us remain a partner of choice in a changing world,” said Nobutake Suzuki, President and CEO, MUFG Innovation Partners Co., Ltd.

Established in 2014 and headquartered in California, Symphony offers a team collaboration platform to allow for efficient communication and single workflow application.

by Megha Bhattacharya
Market Analyst at IBS Intelligence