Symphony’s valuation tops $1bn with new fundraising

Chief executive says message system now has 200,000 users as it targets Bloomberg

Symphony, the messaging platform trying to topple Bloomberg as Wall Street’s social network of choice, has raised a fresh round of funding that puts it in the elite club of “unicorns” worth more than $1bn.

Since launching its tools about 18 months ago the Palo Alto-based company has positioned itself as a cheaper, more convenient alternative to the bulky terminals that sit on trading desks around the world.  According to David Gurle, the company’s founder and chief executive, Symphony has built a network of about 200,000 users across 170 companies, most of them on the sellside.

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