Funding supports growing demand for behavioral engagement technology
CALGARY, AB–Symend, a leader in Behavioral Engagement Technology™, has raised more than 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 was 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 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.”
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.”
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 Technology™ 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.