SymbaSync Press Release
Edinburgh start-up closes round with two investors despite Coronavirus Isolation
Edinburgh, United Kingdom- 15 April 2020
SymbaSync Ltd, an Edinburgh based human resources software company, announced on the 23rd of March that they received an equity investment from Hamburg based investor(s), Next Commerce Accelerator and a private investor. This investment will facilitate the growth of SymbaSync’s product and sales development in Europe for its new TeamCreator software.
“Having just turned down a million-euro investment from Austria after years of looking for investment in Scotland, NCA and our additional private investor believe in our founders, long-term technology, learning, and market potential that make it an amazing fit.”
Thorsten Wittmütz, Managing Partner, Next Commerce Accelerator GmbH says:
“SymbaSync, through years of development and customer learning, has landed on the correct technology to meet the pains of identifying costs, availability, and updated skills databases in their new target market.”
SymbaSync originally started as a talent sourcing solution removing bias and taking into consideration workers preferences. Although acquiring over 11,000 users and 185 customers in 8-months, they were unable to raise funds in the U.K. that are necessary to facilitate growth for this innovative solution. Utilizing their connections through the RBS/Natwest Accelerator, they piloted the use of this technology to enable companies to develop project teams from amongst employees and contractors. They then launched an additional successful pilot with OTP Bank in Hungary, confirming the need to pivot. Next Commerce Accelerator was a natural fit as that their fund is backed by corporates in Germany, which provide knowledge, feedback, and potential customers to their portfolio companies.
Next Commerce Accelerator, located in Hamburg, Germany, is a multi-corporate, single industry focused innovation network, startup acceleration program and investment fund. NCA connect startups and corporates.
SymbaSync helps organizations maximize return on employee investment by providing Human Resources Software to source, qualify, and engage employees to populate project teams. SymbaSync’s tools increase employee satisfaction while improving employee ownership, devotion, and retention.