09/08/2017

PMSI provides CDD in support of Livingbridge's investment in back office automation specialist Symphony Ventures

Livingbridge has invested £3.5m series A funding into Symphony Ventures, a global services firm focused on Robotic Process Automation (RPA) and Intelligent Automation.

Symphony was founded in 2014 and provides consulting, implementation and managed services to enterprise clients looking to automate operational processes that are manual, repetitive, complex and time consuming through RPA and Intelligent Automation solutions. RPA can yield improvements in speed, accuracy, quality and compliance while delivering significant cost savings. Employees can be freed up to focus on more dynamic, engaging work while customers can experience higher satisfaction levels through improved interactions.

 

Organizations in all industries are increasingly adopting RPA for front, middle and back office functions ranging from human resources, to finance and accounting, to procurement to logistics. The RPA industry has demonstrated rapid growth in recent years and according to HfS Research, the market is expected to reach £920 million ($1.2 billion) by 2021. Symphony was ranked the #1 RPA Pure Play Specialist by HfS Research in 2016 and recognized by Gartner as a Cool Vendor in 2015. Symphony's client portfolio includes firms in more than 21 countries in financial services, telecommunications, health care, logistics and the public sector.

Henry Alty, Associate Director at Livingbridge commented:

 

“Symphony Ventures has swiftly developed a strong position in the rapidly growing RPA and Intelligent Automation space, a multi-billion-pound sector we have monitored since its inception. Symphony’s impressive founding leadership team has developed a compelling proposition for its clients, and we are excited to be working with them to further accelerate Symphony’s growth.”

 

Symphony will use the investment to expand hiring within its core markets in the U.S., U.K. and Poland, and to extend its capabilities into new geographies. The company plans to at least double its current team size over the next 12 months. The company will also continue to invest in product development and broaden its service catalog to bring new, high-demand offerings to market. Symphony plans to introduce an innovation lab that will provide infrastructure to allow feasibility assessments of RPA and other new ecosystem technologies.

 

Additionally, Symphony will use the funding to address the explosive demand for RPA skills in the market by developing training programs for enterprises to scale RPA teams and train RPA developers side-by-side with the company's experts. The funding will also support a new service category that will offer lower risk RPA-centric outsourcing solutions that create higher value for clients than traditional BPO.

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