Calgary’s Symend today announced that it has raised a Capital Growth round of over USD $40 million led by Inovia Capital to further accelerate its growth and global market expansion.
With a vision to transform the science of engagement on a global scale, Symend’s platform generates deep customer insights using a trifecta of behavioral science, data science and advanced analytics so enterprises can deliver digital experiences that are hyper-personalized based on the science behind consumer behavior.
Symend’s platform allows enterprises such as service providers, financial institutions, and utilities can digitally interact with their at-risk customers with empathy, while building lifelong value for the company and the brand.
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.
Earlier this week Symend was acknowledged by Deloitte’s annual Technology Fast 50 program. Recognizing the world-class achievements of Canadian tech companies, the Technology Fast 50 program highlights their commitment to innovation, leadership, and rapid revenue growth.
Symend ranked #7 on the list with revenue growth of 4,366% between 2018 and 2021.
Led by Inovia Capital, the funding round also included 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 hyper personalized 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.”
Founded in 2016 by CEO Hanif Joshanghani and CMO Tiffany Kaminsky (pictured), Symend is headquartered in Calgary and privately held, with global operations across Canada, the United States and Latin America.
“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 Joshaghani.
“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.”