Funding supports growing demand for behavioral engagement technology
Symend, the leader in Behavioral Engagement Technology™, 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 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.”
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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.”
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