Investors Joining Messaging Startup Symphony, to Tune of $100 Million
October 12 2015 - 10:10AM
Dow Jones News
Symphony Communication Services LLC, the Wall Street-backed
messaging startup, said Monday it raised more than $100 million
from investors that include Alphabet Inc.'s Google unit and UBS
Group AG.
The new capital will be used to "accelerate global customer
adoption," the Palo Alto, Calif.-based company said in a statement.
Venture-capital firm Lakestar, Natixis and Socié té Gé né rale also
joined the latest funding round, which also drew money from
existing investors such as Merus Capital, a venture-capital
firm.
The Wall Street Journal reported earlier this month that the
latest investment would value Symphony at $650 million.
"This financing is a vote of confidence in Symphony's value
proposition," David Gurle, the company's founder and chief
executive, said in the statement.
A group of 15 financial firms, including Goldman Sachs Group
Inc., Morgan Stanley and BlackRock Inc., had put $66 million into
Symphony last year.
Write to Justin Baer at justin.baer@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
October 12, 2015 09:55 ET (13:55 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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