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Symphony orchestrates retail start-up win


E-commerce start up Symphony Commerce is facing seriously elevated expectations now that it has been singled out by as the company with the greatest potential to transform the shopping experience and positively impact the retail industry.

The distinction of being named Digital Commerce Startup of the Year was bestowed on Symphony Commerce by after the digital division of the National Retail Federation and other judges selected the company from a field of 60 start ups. The judging panel included business leaders at NRF, Northwest Venture Partners, Simon Venture Group, Modcloth, Hudson's Bay Company and Abercrombie and Fitch.

Symphony delivers enterprise-level commerce as a service and handles wholesale and retail business requirements from commerce applications to supply chain logistics, allowing its customers to focus on core functions like building products and nurturing relationships. The company’s product portfolio includes integrated solutions for online stores, fulfillment and marketing.

"We believe that great companies are created when they focus on and master the core aspects of their business. For retailers, this is merchandise, branding and customers," said Harish Abbott, CEO and co-founder, Symphony Commerce. "The brands that partner with us on critical operations are freed up to focus on those core elements and able to scale retail and wholesale business and go toe-to-toe with big name brands."

According to the company, the gross merchandise value Symphony has processed on its commerce as a service platform, which is designed to take the friction out of running an e-commerce business, has increased by 400% and is on track to top $1 billion by 2016. Symphony's own revenue has increased 280% year-over-year.

"Retail is changing at lightning speed and many of the innovations we're seeing today exist because people like Harish followed his dreams to build a company that would so strongly impact our industry, and in this instance, a company that would change the way retailers and brands grow their businesses in the digital space," said Vicki Cantrell, NRF Senior Vice President and Executive Director.

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