Corporate Valuations - News Symphony, a messaging app backed by Wall St, gets $63M at a $1B+ valuation



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Symphony, a messaging app backed by Wall St, gets $63M at a $1B+ valuation


Date: 15-May-2017

Symphony a secure messaging app that counts 15 of the world’s biggest banks among its investors and 200,000 paying customers, has raised a new tranche of funding to fuel its expansion into new markets. Symphony has closed in on $63 million; and according to sources close to the company, the startup is now valued at over $1 billion. This new round adds another strategic investor, the French bank BNP Paribas, which led the round and is taking a seat on Symphony’s board. A majority of Symphony’s existing shareholders also participated in the round, the company said. That group includes Google, Lakestar, Natixis, Societe Generale, UBS and Merus Capital, and 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. The company has now raised $229 million.

 
 
 
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