Canada's Symend Raises Extra Expansion Funds

In Canada, behavioral science and data-driven insights platform Symend has raised an add-on $43m investment funding round, following $52m secured in a Series B in May last year. The additional funds will be used to drive global expansion and add to the firm's customer lifecycle product portfolio.

Symend's consumer data platform uses advanced analytics to provide enterprise clients with an understanding of consumer behavior and engage millions of customers. The company continuously optimizes these insights and then 'nudges' customers towards a desired action - including resolving past due bills - with personalized communications and self-serve tools. Headquartered in Calgary and headed by CEO Hanif Joshaghani (pictured), the company recently opened an office in Australia to serve the Asia Pacific market, and has plans to expand into Latin America and Europe, the Middle East and Africa.

The Series B+ round was led by tech venture firm Inovia Capital, with participation from a consortium of investors, and brings Symend's total funding to date to more than $100m. Dennis Kavelman, Partner at Inovia Capital, says the new investment leaves Symend 'well-funded' to execute its strategy of scaling globally, and to partner with large enterprises in many industries.

Web site: www.symend.com .