CPE News (11.17.2022) – Symend has raised over US $40 million in Series C funding led by Inovia Capital and with participation of Impression Ventures, Mistral Venture Partners, BDC Growth Venture Co-Investment Fund, BDC Capital Women in Technology Fund, Plaza Ventures and Export Development Canada (EDC).
Founded by Hanif Joshaghani and Tiffany Kaminsky, Symend is a leading SaaS company that turns difficult conversations and everyday moments into positive experiences across the entire customer journey. Symend’s Behavioral Engagement TechnologyTM delivers digital experiences that are hyper-personalized based on the science behind consumer behavior.
In February 2021, Symend announced the closing of US $43 million Series B+, following its US $52 million Series B in May 2020, bringing total funding then to over US $100 million.
Symend’s other investors include Ignition Partners, TELUS Ventures, BMO Capital Partners, Family Office of Markus Frind, Silicon Valley Bank (SVB), and others.
photo credit: Symend
Rear (L-R): Johnny Park, Chief Services Officer; Corey Scobie, CTO; Scott Brammer, Chief Information Security Officer; Peh-Keong Teh, CPO.
Front (L-R): Vivian Farris, Chief People Officer; Aly Khan Musani, CFO; Hanif Joshaghani, CEO & co-founder; Jonathan Morgan, Chief Growth Officer; Tiffany Kaminsky, co-founder & Chief Impact Officer.
News Release
Symend Infuses Over $40M in Growth Capital to Transform Customer Engagement with Behavioral Science
Funding supports growing demand for behavioral engagement technology
CALGARY, Alberta – Nov. 17, 2022 – Symend, the leader in Behavioral Engagement TechnologyTM, today announced that it has raised over US$40 million to further accelerate its growth and global market expansion. The company is on track to double the number of customers served for the third consecutive year and will serve over 40 million consumers on behalf of North America’s largest companies this year.
This round, led by Inovia Capital, alongside a consortium of investors including; Impression Ventures, Mistral Venture Partners, BDC’s Growth Venture Co-Investment Fund, BDC Capital’s Women in Technology Fund, Plaza Ventures and EDC.
“As Symend rapidly expands and closes one of Canada’s top FinTech raises of the year, this latest financing cements its position as a changemaker within digital customer engagement,” said Dennis Kavelman, Partner at Inovia Capital. “Enterprises are seeing the value of Symend through its ability to help decrease delinquencies and retain revenue while delivering a hyperpersonalized approach that increases customer loyalty. The demand for Symend’s technology continues to increase and we are excited to help fuel the next phase of growth.”
With growing economic uncertainty, half of North American consumers are ignoring emails from their service providers because they aren’t sufficiently personalized or relevant, according to Symend’s 2022 Consumer Report. Symend’s empathetic, behavioral science-based solution has a proven track record of improving financial performance and delivering positive customer experiences for some of the world’s largest financial institutions and telecommunications providers.
“As delinquency rates rise and customers increasingly grapple with digital fatigue, more businesses require a solution, like Symend, to recover revenue, reduce operating expenses and drive client retention,” said Hanif Joshaghani, CEO, Symend. “As we continue to efficiently grow and evolve, we are committed to using our purpose-built technology and solution to deliver what companies across the globe need right now – cost-savings, high return-on-investment and improved customer satisfaction and loyalty.”
About Symend
Symend is a leading SaaS company that turns difficult conversations and everyday moments into positive experiences across the entire customer journey. Symend’s Behavioral Engagement TechnologyTM delivers digital experiences that are hyper-personalized based on the science behind consumer behavior. Our solution achieves better results and builds stronger relationships with nearly half the outreaches. By adapting as customers change, Symend helps top enterprises create and keep customers for life. Founded in 2016, Symend is headquartered in Calgary and privately held, with global operations across Canada, the United States and Latin America. For more information, please visit https://symend.com/.
Contact:
Rebecca Kates
Communications Manager, Symend
Rebecca.Kates@symend.com