SAN FRANCISCO--(BUSINESS WIRE)--Symphony Commerce closed a $21.5 million Series B round of funding led by CRV, with participation from existing investors Bain Capital Ventures and FirstMark Capital. As part of this transaction, Devdutt Yellurkar, CRV partner and former CEO of Yantra, has joined Symphony’s board. He is excited to be a part of Symphony, stating, "Harish and Henry have built a cloud offering that delivers a full stack of commerce services for brands and retailers. We have tremendous respect for their vision and their focus on customer delight."
Symphony delivers commerce as a service to today's fast-growing brands. Symphony handles critical wholesale and retail business functions from commerce applications to logistics. This enables brands to focus on the core aspects of their business: building amazing products and nurturing customer relationships.
Commerce as a Service
Symphony was built as a set of independently useful commerce solutions for web/mobile storefront, marketing, fulfillment and logistics. Brands can opt to use a single commerce service like fulfillment and derive immediate value. When utilized together, Symphony’s services provide exponentially more benefits. “Brands gain the most value from Symphony when they leverage our full suite of services. Together, they provide a highly intelligent and personalized experience across the entire customer lifecycle,” says Henry Kim, President of Symphony.
Take a standard customer invoice, for example. Since Symphony enables brands to collect data across each customer touch-point, brands can analyze keyword searches, page views and cart additions to create a branded invoice with intelligently selected add-ons. Instead of simply listing the product ordered, the invoice can include promotions like “Products You Might Also Like” or “Just For You” coupons to drive additional sales.
Commerce as a service allows brands to free up time and money that is spent on operations, and reallocate it to making better products, building stronger brands and engaging more customers. In an increasingly competitive retail marketplace, brands that optimize operational efficiency will clearly build a competitive advantage. With a pay-per-use model - there are no setup costs or hidden fees - Symphony's success is directly tied to brand growth. Brands now have access to enterprise-level commerce infrastructure without outlaying upfront capital. Symphony powers both retail and wholesale business segments so businesses can manage these channels and workflows seamlessly.
Positioned for Growth
The new funding announced today will be used to scale the engineering and sales teams. “Symphony’s mission is to democratize enterprise-level commerce. We, as an industry, are in the first inning of this transformation. Devdutt's experience in building Yantra and helping Zendesk scale is very relevant for Symphony's next phase of growth. We are excited to partner with Devdutt and CRV," said Harish Abbott, CEO of Symphony.
Headquartered in San Francisco, Symphony is a privately held commerce company. Symphony delivers commerce as a service to today's fastest growing brands so that businesses can focus on core functions like building amazing products and nurturing customer relationships. Members of the Symphony executive team have played integral roles at Amazon, eBay, Google and Yahoo! and have also worked with Sean John, Barneys and Zac Posen.
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