Digital customer engagement platform company Symend raises $52 Million to treat, engage, and retain customers
Fremont, CA: Symend, a Calgary-based customer engagement platform that is designed to engage, treat, and retain those financially at-risk customers, closes funding round after raising $52 million.
The funding round was led by Inovia Capital and saw the participation of a consortium of investors that included Ignition Partners, Impression ventures, BDC Capital’s Women in Technology Fund, Mistral Venture Partners, and the angel investor Markus Frind.
The latest input of funds to the company will be utilized to invest in the growth and development of Symend’s digital engagement platform, helping it expand into newer verticals and geographies. It will also help develop the team across Canadian and US operations.
With Co-Founder and CEO, Hanif Joshaghani and Co-Founder and Chief Strategy Officer, Tiffany Kaminsky, Symend extends a white-label digital engagement platform that blends behavioral science, AI, and machine learning to deliver deep insights into the situation and behavior of the customer, providing evidence-based recommended actions. Symend applies dynamic customer sub-segmentation across products, advanced behavioral modeling, and iterative optimization to allow users to create one-of-a-kind treatment strategies that help engage customers.
Symend was founded in 2016, and since then, it has treated over 10 million at-risk customers to date via its digital engagement platform and is on the record to treat another 100 million by the end of 2020.
“We’re impressed with Symend’s commitment to providing at-risk consumers with greater flexibility when it comes to meeting their financial obligations and protecting their credit. We invested in this great founding team because we value their openness, tenacity, and ability to deliver solutions for this critical problem,” said Inovia Capital Partner Dennis Kavelman in a statement.
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