Arab Today, arab today google joins funding round to up symphonys value
Last Updated : GMT 06:04:57
Arab Today, arab today
Arab Today, arab today

To power worldwide expansion and win more users

Google joins funding round to up Symphony's value

Arab Today, arab today

Arab Today, arab today Google joins funding round to up Symphony's value

Tech giant Google
San Francisco - Arab Today

Symphony, a financial industry messaging startup, announced Monday that it has raised $100 million in a new round of funding from backers that included Google.

An encrypted messaging platform launched by the year-old company has become a fast-growing rival to a service offered by Bloomberg.

Google was joined in the new funding round by Swiss bank UBS, French banks Natixis and Societe Generale, and venture capital firms Lakestar and Merus Capital, an existing investor, according to Symphony.

The new funding was reported to up Symphony's value to $650 million.

The Silicon Valley-based company expected the cash infusion to power worldwide expansion and efforts to win more users, which the startup says currently number more than 40,000 in 100 countries.

"$100+ million is more than what we anticipated to raise!" Symphony CEO David Gurle said in a blog post on the company website.

"This amount gives us the runway to stay focused on our vision of becoming the standard for business communications and allow us to accelerate our growth globally."

The rise of Symphony poses a lower-cost challenge to the messaging service on Bloomberg's terminals, which have long been an industry-standard communications tool for financial institutions, traders and clients.

Prior to the new funding round, Symphony had been backed by some of the biggest global financial firms, which gained access to the messaging service through their investment.

Silicon Valley-based Symphony had made the service publicly available September 15.

The addition of tech giant Google to the largely finance- and venture capital-dominated pool of backers, was seen as opening the possibility for Symphony to broaden beyond the financial industry.

In his blog post, Gurle attributed investor interest in his company to "a unique architectural approach," that is cloud-based, designed to protect against cyber threats and in which customers own the encryption infrastructure.

"Symphony is built for highly regulated businesses and enterprises that need to meet regulatory compliance requirements, with a passion for intuitive user experience and engaging design," he added.

He said the company has booked more than $10 million in service contracts in recent months.
Source: AFP

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today google joins funding round to up symphonys value Arab Today, arab today google joins funding round to up symphonys value

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today google joins funding round to up symphonys value Arab Today, arab today google joins funding round to up symphonys value

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Lufthansa chief eyes up to 78

GMT 11:29 2017 Thursday ,21 September

Lufthansa chief eyes up to 78
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Huthis stage defiant rally 3 years

GMT 05:29 2017 Friday ,22 September

Huthis stage defiant rally 3 years
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today China lifts 10-year travel ban

GMT 18:09 2017 Thursday ,21 September

China lifts 10-year travel ban
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes pumps 1 bln euros    

GMT 06:04 2017 Friday ,22 September

Mercedes pumps 1 bln euros    
Arab Today, arab today Intel chips loaded in Waymo

GMT 14:43 2017 Wednesday ,20 September

Intel chips loaded in Waymo
Arab Today, arab today Actress Ream Hhagag prepares for a new film

GMT 09:40 2017 Tuesday ,19 September

Actress Ream Hhagag prepares for a new film
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 12:14 2017 Monday ,18 September

Horia Farghaly happy for success of “Case G”

GMT 10:35 2017 Thursday ,14 September

New Zealand opposition looks

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 04:49 2017 Wednesday ,20 September

WHO urges Yemen to accept vaccines

GMT 16:04 2017 Tuesday ,19 September

Egypt tourism revival steady but slow

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday