03:54 PM EDT, 07/16/2024 (MT Newswires) -- SymphonyAI plans to sell shares to the public in H2 2025, Reuters reported Tuesday, citing an interview with Chief Executive Officer Sanjay Dhawan.

SymphonyAI reached $500 million in revenue run rate last year and became profitable after boosting revenue at a rate of 25%, the report said, citing the CEO.

The timing of the listing may change based on business and market conditions, the report said, citing the CEO.

The company, based in Palo Alto, California, was founded seven years ago by tech billionaire Romesh Wadhwani.

SymphonyAI serves 2,000 customers with AI products forecasting demand for consumer companies and detecting fraud for financial firms.

The company didn't immediately respond to a request for comment from MT Newswires.

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