Symend is a SaaS company that delivers Behavioral Engagement Technology to create hyper-personalized digital experiences across the customer journey. Its platform aims to turn difficult conversations and everyday moments into positive experiences by adapting as customers change. The company is led by CEO Hanif Joshaghani and focuses on helping enterprises create and keep customers for longer. Symend intends to use the new funding to accelerate growth and expand globally. Founded in 2016, the company has operations across Canada, the United States and Latin America. The articles report the company raised over $40M in growth funding from a group of institutional investors. Symend builds behavioral analytics integrated with customer-engagement tools to identify customers struggling to pay bills and offer payment alternatives to avoid defaults. The company combines client data with third-party resources and applies AI/ML, behavioral science (about 25% of staff are behavioral science PhDs) and NLP-based sentiment analysis to personalize outreach and self-serve tools. Symend primarily serves telecommunications, financial services, utilities and media clients and says it counts two-thirds of major North American telecommunications providers and a multinational bank among its customers. Last year the company said it was on track to work with 100 million end customers by the end of 2020. Financially, Symend announced a $43M extension to its Series B, bringing that round to $95M and over $100M raised since its 2016 founding. The company plans to use the funding to hire internationally (targeting Latin America and Asia-Pacific), and to expand its product set into customer retention and acquisition tools alongside further investment in its defaults-prevention offering. Symend builds behavioral-analytics-driven customer engagement tools that identify customers having trouble with bills and suggest alternatives (deferred payments, payment holidays, etc.) to prevent defaults. The platform applies AI and behavioral science (about 25% of staff are PhDs) to tailor interventions and preserve customer relationships while recovering payments. Symend reports it has "treated" roughly 10 million customers to date and the CEO estimates it will have treated 100 million customers by the end of this year. Pricing is not tied to downstream performance, but the company says customers see an average 10x ROI on their investment in the service. Symend was founded in 2016 and positions its product to help clients manage a surge in customers struggling to pay amid worsening economic conditions. The company plans to scale its operations to meet a massive boom in demand for its services. Symend is a Calgary, AB, Canada–based fintech startup that provides a software-as-a-service solution to help utility providers, telecoms, and unsecured credit card suppliers recover customer debt. Its tools include automation of collection information, customer outreach, and flexible payment options. The company intends to build out its prototype using a combination of automation, predictive analytics, and positive collection tactics to help pilot customers. Symend operates a SaaS model focused on improving collections outcomes through technology and customer outreach. Co-founders are Hanif Joshaghani (CEO) and Tiffany Kaminsky (CMO), joined by CTO Joseph King. As of the article, Symend had raised $1M in seed funding from unnamed business angels to support prototype development.

Total raised

$136M

Funding rounds

4

Latest round

Equity

Latest activity

Nov 2022