Google, which has now morphed into holding company Alphabet, is in talks with messaging start-up Symphony about a round of fundraising, a person familiar with the matter said.
Symphony's chat service allows financial firms, corporate customers and individuals to put all of their digital communications on one centralised platform.
The talks are ongoing and no terms are finalised yet, the source added.
The Wall Street Journal, citing people familiar with the matter, reported yesterday that Google invested in a new round of funding for Symphony that values the company at about $650 million.
The service is backed by Goldman Sachs and other big Wall Street banks.
Goldman led a group of 14 banks, including Bank of America, Citigroup, and JPMorgan Chase, in making a $66 million investment in Symphony last October, when Symphony was set up.
Symphony spokesperson Samantha Singh declined to comment.
Many on Wall Street think of Symphony as a rival to Bloomberg and Thomson Reuters, which provide messaging and information services for bankers, traders and investors. These terminals can cost tens of thousands of dollars per year for each customer.
Symphony is available to businesses with more than 50 users for $15 per user per month. Smaller businesses and individuals can use the tool for free.
Last month, Symphony said it is working with News Corp's Dow Jones to offer news stories in its service and with McGraw Hill Financial to integrate data and analytics from its S&P Capital IQ product.
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