15 May 2019

Symphonic Software raises funding led by Maven to expand sales and product innovation.

Maven led the investment to help scale the Edinburgh-based identity management firm.

£10.4M

Symphonic Software provides an identity and access management platform that helps organisations securely share sensitive information and comply with data regulations. Based in Edinburgh, the firm develops granular controls for complex administrative requirements in the digital economy.

Edinburgh-based Symphonic Software has secured funding in a round led by Maven to scale its operations. The capital will be directed towards expanding sales and marketing capabilities and driving product innovation.

The company operates in the identity and access management sector, which is experiencing strong growth driven by heightened data security demands and regulations such as GDPR and Open Banking. Financial institutions use the platform to manage complex access patterns and maintain compliance across internal and external networks.

Investor perspective

"We are delighted to be leading the investment in Symphonic Software. The company operates in a high growth sector driven by significant new regulation. Symphonic is targeting further growth in retail banking and other sectors and is well positioned to expand into new markets. We look forward to working with Derick and his team over the coming years to scale the business and deliver on its growth strategy."