Plume, a Palo Alto, Calif.-based provider of SaaS experience platform for Communications Service Providers (CSPs) and their subscribers deployed globally, closed a $270m minority investment from Insight Partners.
This Series E round, raised at a $1.35 billion valuation, brings Plume’s total equity funding to $397m. In conjunction with the funding, Insight Partners Managing Director Ryan Hinkle, has been appointed as a director on Plume’s board.
The company intends to use the funds to:
- increase investment in research & development,
- lean into sales, marketing, and partnerships,
- continue its product, revenue, customer, channel, and geographic expansion, and
- add employees in all of its offices across North America, Europe, and Asia.
Led by Fahri Diner, Co-founder and CEO, Plume provides a comprehensive suite of cloud-controlled front-end services delivered over a smart, software-defined network. Its HomePass™ front-end services suite consists of adaptive and self-optimizing whole-home WiFi, AI driven cybersecurity and IoT device protection, sophisticated parental supervision, secure access controls, and motion awareness. HomePass is complemented by a data-driven back-end operations platform offering real-time and predictive customer support tools, network control center applications, deep analytics, comprehensive dashboards, consumer behavior and satisfaction insights, churn prediction, and retention marketing services for CSPs through Plume’s Haystack™ and Harvest™ suites.
Customers benefit from Plume’s platform through OpenSync™, an open-source, silicon-to-cloud framework for smart spaces.