Plume, a Palo Alto, USA-based personalized communications services company, raised $300m in funding.
The minority equity investment, which brought company’s valuation to $2.6 billion, with $697m raised to date, was made by SoftBank Vision Fund 2. Nagraj Kashyap, Managing Partner at SoftBank Investment Advisers, joined the Plume Board of Directors in conjunction with the funding.
The company intends to use the funds to expand its research and development, sales and marketing, new partnership, and acquisition efforts.
Led by Fahri Diner, Founder and CEO, Plume provides a SaaS experience platform for Communications Service Providers (CSPs) and their subscribers, deployed in more than 35+ million locations globally. As the only open and hardware-independent, cloud-controlled solution, the company enables the rapid delivery of new services for smart homes, small businesses, and beyond at massive scale. On the front end, Plume delivers self-optimizing adaptive WiFi, cyber-security, access and parental controls, and more. CSPs get data- and AI-driven back-end applications for visibility, insights, support, operations, and marketing. The company leverages OpenSync™, an open-source framework that comes pre-integrated and supported on the leading silicon, CPE, and platform SDKs.
More than 240 cable multiple system operators (MSOs), telecommunications companies, and fixed wireless access operators of all sizes worldwide use Plume as a primary vehicle to grow revenue, increase customer satisfaction and retention, accelerate service velocity and innovation, reduce expenses, avoid commoditization of broadband, and to expand their service area beyond their broadband footprint. Recently, Plume made the HomePass™ smart home service available to all 25 million U.K. households, in partnership with Virgin Media, including those households in areas not yet covered by the provider’s broadband network footprint.
Plume has more than 475 employees and investors include Charter Communications, Comcast Cable, Foxconn, Insight Partners, Jackson Square Ventures, Liberty Global Ventures, Presidio Ventures, Qualcomm, Samsung, Service Electric Cablevision, Shaw Ventures, Silicon Valley Bank, SoftBank and UpBeat Venture Partners.