Symphony is a cloud-based messaging service that uses advanced encryption technology to secure communications. It is aimed primarily at financial companies, which are required by law to keep copies of their messages for several years in case regulators or law enforcement ever need them for an investigation. The big advantage of Symphony is that the encrypted communications cannot be intercepted by snoops.
Symphony launched its first product on September 15. Today the company announced additional funding of $100 million. The investors include Google (!), Switzerland-based bank UBS, Lakestar, the European VC firm and two French investment banks, including Société Générale and Natixis. The funding pushes Symphony’s total capital raised elevates its valuation to a reported $650 million.