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How our support helped Symphonic Software

How our support helped Symphonic Software to grow

Symphonic Software is an industry leader in dynamic and intelligent authorisation software based in Edinburgh and was recently acquired by Colorado based software company, Ping Identity. Find out how our support and financial help was key to the company’s development and growth.

Symphonic Software is an industry leader in dynamic and intelligent authorisation software based in Edinburgh. Founded in 2014, Symphonic helps organisations with the challenge of enforcing complex policy decisions across multiple channels for their workforce, customers, third party providers and business partners.

The Symphonic suite of solutions are a critical component of some of the industry’s most successful digital transformations in the API-driven and inter-connected digital economy. Symphonic delivers market leading solutions to clients in multiple sectors globally from its Edinburgh base.

How we helped

Our support was key to the development of Symphonic Software. Scottish Enterprise originally supported the proof of concept project (pre-incorporation) at Napier University. This involved developing its Secure Analysis and Filtering Risk Engine (Sa.Fire) project, recruiting a commercial champion (who subsequently became an NXD and supported the company through to sale), undertaking primary global market analysis, and preparing a business plan and engaging with investors.

Post spinout, in addition to receiving investment funding from Scottish Enterprise, the company benefited through engagement with our specialists, as well as longer term support.

Our specialist advisory, networking and financial support helped Symphonic to develop, iterate and commercialise its access management software. This helped the company to sell to financial services, healthcare and big brands customers in the UK, Europe and the US – and to grow its team to 30 employees.

Scottish Enterprise financial support was critical to the company’s successful transition from start-up to scale-up. This included funding for participation in the MIT Entrepreneurship Development Programme, an early SMART award, two subsequent R&D grants, and other grants to support digital marketing, international market development, product UI/UX design and investment raising.

Acquisition by Ping Identity

Ping Identity, a software company based in Denver, Colorado has acquired Symphonic Software. Ping Identity is a leader in dynamic authorisation for protecting APIs, data, apps and resources through identity. Dynamic authorisation gives IT teams ultimate flexibility to control what users can see and do, enabling enterprises to more easily prevent fraud, improve cybersecurity, and comply with regulations.

The commercial development of Symphonic Software - culminating in an acquisition by Ping Identity - shows the value of the extensive support we provided to the business. 

Kerry Sharp, Interim MD, Scottish Economic Development said:

“Congratulations to the team at Symphonic Software. This is an excellent example of SE helping to develop technology in Scotland using a wide range of support mechanisms, working with a talented management team and local investors. We are delighted to welcome Ping Identity to Scotland and look forward to supporting the business in continued growth and success.”

Derick James, CEO, Symphonic Software said:

“Scottish Enterprise has been a hugely positive force for Symphonic on every step of its journey from inception. We are very grateful for that assistance to help us grow to our current market leading position. The Scottish tech eco-system is a vibrant one, and Scottish Enterprise is a vital part of that ecosystem.”

Next step

Read more about accessing finance and how we can help grow your business.