Draft:SymphonyAI

SymphonyAI is a private enterprise cloud SaaS company that produces predictive and generative AI applications for businesses. Dr. Romesh Wadhwani, an Indian-American tech entrepreneur and co-founder of private equity firm Symphony Technology Group, founded SymphonyAI in 2017 and has invested up to $1 billion of his private fortune in the company.

The company markets its portfolio of AI SaaS applications in six business units: Retail, Industrial, Financial Services, Media, and Enterprise IT or ITSM, and Trading & Investing. Its customers include Coca-Cola, Kraft Heinz, 3M, Siemens, Hearst, Toyota, and Metro Bank.

Acquisitions

SymphonyAI has completed a number of acquisitions, including ReTech Labs, a provider of real-time store shelf image capture and recognition technology, and Proceedix, a connected frontline industrial worker platform, in 2021. In 2022, SymphonyAI purchased BAE Systems' financial fraud detection software, NetReveal. In 2023, the firm acquired the decision science and data management company 1010Data.

Company Growth & Governance

The company achieved profitability and a run rate of $500 million in annual revenue in 2023. The company's CEO is Sanjay Dhawan and its board of directors includes private equity executive Blythe Masters and robotics engineer and computer scientist Daniela Rus.

Its competitors in the enterprise AI category include publicly traded firms C3 and Palantir Technologies.