Acquisition expands Symphony Commerce vision to help brands gain access to best-in-class ecommerce platform and achieve increased Customer Success
AUSTIN, TX, May 17, 2018 – Quantum Retail Technology, Inc. announced today the acquisition of San Francisco-based, leading Commerce-as-a-Service provider, Symphony Commerce, Inc.
Quantum Retail is an affiliate of Versata, which is part of the ESW Capital group of companies, one of the largest privately held enterprise software companies in the world. ESW Capital’s strategy is to acquire best-of-breed software solutions, which possess the potential for further growth through increased investment and an obsessive focus on Customer Success.
Symphony Commerce is the leading provider of Commerce as a Service and was created by the visionary and technical team behind Amazon’s ordering and fulfillment systems.
Trusted by enterprise and mid-size brands in the fashion and apparel, durables and consumer packaged goods segments, its cloud platform orchestrates commerce across multi-channel storefronts, orders, inventory and fulfillment. With Symphony Commerce, brands are free from the burden of infrastructure management and gain the data and services needed to operate and grow their business.
“I am excited about the opportunity to integrate Symphony’s commerce platform with Quantum Retail’s supply chain and inventory optimization. Our brands will benefit from the end-to-end intelligent commerce,” said Ken Fine, Symphony Commerce CEO.
Leela Kaza, CEO of Quantum Retail and longtime veteran of Versata and its parent company, ESW Capital, will assume the role of CEO for Symphony Commerce. “I am pleased to welcome the Symphony Commerce brand into the Versata family and broader ESW Capital group of companies. We are confident that the addition of Quantum’s advanced retail science to the Symphony Platform will offer our customers unprecedented value and competitive advantage,” said Kaza.
About Quantum Retail Technology, Inc.:
Quantum Retail Technology is the industry’s leading innovator of retail-focused supply chain management and inventory optimization solutions. Our retail platform software is designed to increase retailer’s profitability in an increasingly dynamic marketplace. Quantum clients include many of the world’s top retailers. For more information, visit www.quantumretail.com.
With a global presence covering 45 countries, Versata solves complex business problems for the world’s largest organizations. Versata distinguishes itself in the software industry by focusing on customer priorities as driven by value delivered. Our market-leading Customer Success program ensures customer involvement in product decisions and business priorities and provides opportunities for customers to score Versata’s performance against commitments. Versata’s world-class engineering capability ensures substantive and valuable product releases, continuous innovation and repeatable value propositions. For more information, visit www.versata.com.
About ESW Capital, LLC:
Based in Austin, Texas, Enterprise Software (ESW) Capital has honed a finely-tuned methodology focused on buying, strengthening and growing mature business software companies. By taking advantage of its unique operating and development platforms, ESW revitalizes its acquisitions for sustainable success while making customer satisfaction a top priority. ESW and its affiliated companies have been in the enterprise software space since 1988, and the group includes notable brands such as Aurea, Trilogy, Versata and Ignite Technologies. For more information, visit www.eswcapital.com.
Fine will build on Symphony’s momentum after company revenue doubles in 2016
SAN FRANCISCO – February 2, 2017 – Symphony Commerce, provider of the leading Commerce as a Service (CaaS) platform, managing multi-channel storefronts, orders, inventory and fulfillment for leading enterprise brands, today announced that Ken Fine has been named Chief Executive Officer. Former CEO Harish Abbott will continue to lead Symphony’s long-term product and business vision and will remain a member on the Board of Directors.
Founded in 2010 by Harish Abbott and Henry Kim, Symphony has built an impressive base of clients, including some of the world’s top fashion and apparel and consumables brands. Running their commerce operations on the Symphony platform, these brands have achieved significant revenue growth and saved over 30 percent in shipping costs while collectively fulfilling more than 10 million units in the past year alone. Built by a team of Amazon alums, the company’s highly-scalable and fully-integrated platform optimizes all phases of commerce. Unique capabilities that orchestrate inventory and multi-warehouse fulfillment enable brands to achieve faster delivery with higher margins and ultimately, greater customer satisfaction.
“I am incredibly proud of the Symphony team and our company achievements to date,” said Harish Abbott. “As we continue to transform the commerce landscape, I knew we needed a leader with a track record of successfully scaling high-growth enterprise software companies. I’m thrilled to bring in a CEO of Ken’s caliber and confident he will take the company to great new heights.”
Fine brings over 15 years of experience in growing and scaling major enterprise businesses. Prior to joining Symphony Commerce, he served as the Chief Customer Officer and Vice President of Product at Medallia, one of the fastest growing Enterprise SaaS unicorns. He also led the reinvention and go-to-market growth at Financial Engines which has grown into a $400+ million revenue and >$2 billion market cap Enterprise SaaS leader.
In his new role at Symphony Commerce, Ken will focus on expanding Symphony’s presence with large enterprise brands, extending strategic service offerings to clients, and ensuring the platform continues to lead the market in functionality, scalability and customer value. His previous experience in leading product, services, and go-to-market strategy within enterprise software businesses, paired with his people-first approach to building high-performing teams, will help drive Symphony’s continued success.
“My goal for Symphony is to enable brands to dramatically expand their commerce channels and increase revenue,” said Ken Fine, Symphony’s new CEO. “It’s exciting to be here as the company is poised for significant growth and I’m thrilled to be a part of the company. Harish’s unique ecommerce insight and expertise has been the driving force behind Symphony. I look forward to collaborating with him as we forge ahead in 2017.”
To learn more about Symphony’s team and services, please visit www.symphonycommerce.com.
About Symphony Commerce
Symphony Commerce delivers the industry’s most comprehensive and scalable store-to-door cloud commerce platform, built by the visionary and technical team members behind Amazon’s order and fulfillment systems. The solution is seamlessly integrated from end-to-end, enabling the management of multi-channel storefronts (D2C, Wholesale, and Marketplace), orders, inventory and fulfillment, while providing unprecedented visibility into business intelligence data for both eCommerce operations and executives. As an outsourced Commerce-as-a-Service platform, supported by Symphony’s team of eCommerce and technology experts, brands are freed to focus fully on driving business growth. Learn more at www.symphonycommerce.com.
VSC for Symphony Commerce
San Francisco, CA – October 5th, 2016 – Today Symphony Commerce, the market leader in Commerce-as-a-Service (CaaS), announces it has been named a Multichannel Merchant Top Commerce Platform for 2017, part of a list of leading commerce platform providers selected by the editors of Multichannel Merchant.
With the rise of e-commerce, the modern consumer expects to be able to buy anything, anywhere, through any channel, and get it delivered under two days or less. This expectation provides a unique challenge for brands, where they now must be able to create and orchestrate omnichannel experiences through a centralized platform.
Enter Symphony, a full stack commerce platform that enables enterprise brands to deliver fully branded online store-to-door experiences to their customers. Symphony’s data-driven approach to personalization combines behavioral information such as location, environment and temporal data along with advanced algorithms so brands can deliver personalized shopping experiences.
Using its order management and fulfillment orchestration services, brands and sellers can deliver fast and predictable shipping across all existing and new consumer channels while improving margins. It also allows sellers to operate efficiently and increase inventory turns with advanced inventory/order management software. Symphony’s advanced fulfillment orchestration technology allows brands to meet customers’ expectations with best-in-class delivery speed, offering two-day shipping to 90 percent of the U.S.
“With the growth of e-commerce and the number of commerce platforms growing, Multichannel Merchant felt it was important to designate commerce platforms qualified and experienced,” said Tim Parry, the Managing Editor of Multichannel Merchant. “This online resource is a searchable database and directory for merchants looking to find the right expert commerce fulfillment providers for their needs.”
When entering a company’s name into Multichannel Merchant’s database, users will be able to see each service provider’s featured capabilities, ideal client types, equipment and systems, contact information and more.
“From inception, Symphony Commerce wanted to change the e-commerce experience for companies,” said Harish Abbott, CEO and co-founder of Symphony Commerce. “Being named to this list with the top commerce providers means that we’re on the way to accomplishing that goal and being recognized for the effort.”
This news is off the heels of Symphony’s latest partnership announcement with Adobe and $11 million in financing led by new and existing investors CRV (Charles River Ventures), Blue Cloud Ventures, Bain Capital Ventures and FirstMark Capital, bringing the company’s total funding to $45 million to date. Symphony Commerce’s growth has seen substantial growth since its launch in 2010, and the company is on track to power over $1B through their commerce platform by the end of this year, working with brands like J Brand Jeans, Neff and Krave Jerky.
Dallas, TX – September 27, 2016 – At Retail’s Digital Summit, Shop.org’s annual digital retail conference, Symphony Commerce today announced a partnership with Adobe (Nasdaq: “ADBE”) to introduce powerful, seamless omnichannel commerce experiences for their brand partners. This collaboration enables brands to augment their personalized, engaging experiences created and managed with Adobe Experience Manager with rich commerce capabilities.
The need for an omnichannel shopping experience has become increasingly critical for brands in light of changing consumer behavior. Today, over 90 percent of consumers use their smartphones while shopping in retail stores. In addition, a customer’s path to purchase is not only directed through a brand’s website, but also through other channels like marketplaces, social platforms, and interactive kiosks. Consumers expect to buy anything, anywhere, through any channel, and get it delivered in under two days or less – providing a unique challenge for brands, where they now must be able to create and orchestrate omnichannel experiences through a centralized platform.
Symphony Commerce will integrate with Adobe Experience Manager, part of Adobe Marketing Cloud, allowing brands to:
- Create and manage omnichannel experiences, enabling shoppers to buy through any channel
- Leverage big data and predictive intelligence to personalize and adapt to shopping behaviors in real time
- Provide fast fulfillment, centralized order visibility and virtual inventory allocation across all business channels
“We’re thrilled to be partnering with Adobe to enable companies to build and manage every element of the commerce experience in the cloud,” said Harish Abbott, CEO of Symphony Commerce. “This partnership stems from an understanding that enterprises need to offer their customers the full end-to-end suite now that consumer needs and expectations are drastically changing. We’re looking forward to creating those seamless discovery-to-doorstep experiences for brands.”
Symphony and Adobe’s data-driven approach to personalization combines behavioral information such as location, environment and temporal data along with advanced algorithms so brands can deliver personalized shopping experiences. In addition, Symphony will now handle the order-management and inventory management for commerce experiences powered by Adobe Experience Manager. Symphony’s advanced fulfillment orchestration technology allows brands to meet customers’ expectations with best-in-class delivery speed, offering two-day shipping to 90 percent of the U.S. Finally, the integration between both products will support the widest range of commerce scenarios and business models, as Symphony is the only enterprise-strength API-first SaaS platform in commerce today.
“In today’s age of experience-driven commerce, it’s essential that retailers provide a consistent, personalized digital shopping experience,” said Aseem Chandra, vice president of Adobe Experience Manager and Adobe Target. “Adobe Experience Manager enables brands to deliver incredible digital experiences across all touchpoints and partnering with Symphony Commerce expands our ability to offer dynamic commerce capabilities to customers.”
This partnership is on the heels of Symphony’s latest round of $11 million in financing led by new and existing investors CRV (Charles River Ventures), Blue Cloud Ventures, Bain Capital Ventures and FirstMark Capital, bringing the company’s total funding to $45 million to date. Founded in 2010 by Harish Abbott and Henry Kim, the company is on track to power over $1 billion through their commerce platform by the end of this year, and drives commerce for brands such as J Brand Jeans, Neff and Krave Jerky.
San Francisco – August 25, 2016 – Symphony Commerce, the market leader in Commerce-as-a-Service (CaaS), today announced brands now have the option to use its Fulfillment-as-a-Service (FaaS) capabilities independently of its other commerce services. By offering FaaS on its own, the company is helping enterprise-level brands scale both online and offline fulfillment logistics. To grow this new offering quickly to brands around the world, Symphony is adding $11 million in new financing led by new and existing investors CRV (Charles River Ventures), Blue Cloud Ventures, Bain Capital Ventures and FirstMark Capital, bringing the company’s total funding to $45 million to date.
Since inception, Symphony’s full stack commerce platform has enabled enterprise brands to deliver fully branded online store-to-door experiences to their customers. With the rise of e-commerce, however, consumers’ path to purchase is not only directed through a brand’s website, but also through other channels like Facebook, Jet, Pinterest, and Nordstrom.com. In addition, the modern consumer expects to be able to buy anything, anywhere, through any channel, and get it delivered under two days or less. This provides a unique challenge for brands, where they now must be able to manage inventory and fulfill orders across a wide array of new channels, in a fast and cost effective manner.
Recognizing this emerging need, Symphony created a set of enterprise-level commerce services to help brands grow. The services enables brands to take orders from any channel, to manage order and inventories optimally and to orchestrate fulfillment. Using its order management and fulfillment orchestration services, brands and sellers can deliver fast and predictable shipping across all existing and new consumer channels while improving margins. The company has already fulfilled more than 10M units, saving brands over 30 percent in shipping costs. It also allows sellers to operate efficiently and increase inventory turns with advanced inventory/order management software.
Now, enterprise-level brands have the option of using Symphony’s FaaS platform independently of the company’s full suite of services. This makes it easier for developed brands to continue using their own storefront, and tap into Symphony’s advanced fulfillment orchestration technology to manage inventory, orders, shipping and warehousing. This infrastructure will be made available to brands via a set of API’s and online tools, so they can seamlessly integrate robust fulfillment capabilities into their commerce business. The service comes with simple and transparent pricing with no hidden fees.
“We’ve been running our storefront on Symphony for the past year, and have been blown away by the results,” said Chip Neff, VP Marketing of Neff. “We will now explore Symphony’s fulfillment to deliver fast and affordable shipping, and are really excited to bring great experiences to our customers.”
Founded in 2010 by Harish Abbott and Henry Kim, Symphony Commerce boasts an impressive list of customers, including some of the world’s most well-known brands such as Pepsi, J Brand Jeans, Neff and Krave Jerky.
“We’re thrilled by the demand we’ve seen from enterprise companies over the last year that has led us to expand our FaaS product to operate as its own service,” said Abbott, CEO of Symphony Commerce. “Fulfillment remains an unsolved problem; there is a massive gap between the customer expectations largely set by Amazon and the fulfillment capabilities of everyone else. With Fulfillment-as-a-Service, a brand can meet the growing expectations of customers across all business channels without incurring significant capital expense or building a large team of fulfillment experts.”
CRV is a 46-year-old venture capital firm focused on early-stage technology investments. Over that period they have made over 400 investments, more than 70 of which have gone public including Twitter, and Zendesk. The company’s new financing also includes significant investment from Blue Cloud Ventures, an investor in Tapad, FirstMark Capital, an investor in Shopify, and Bain Capital Ventures, an investor in Jet.com.
“Symphony is doing for commerce what AWS did for cloud computing,” said Devdutt Yellurkar, partner at CRV. “Building and scaling a commerce infrastructure quickly and effectively is a huge pain point for brands and Symphony handles this process seamlessly.”