– With more than 1.2 billion devices managed in more than 35 million homes and small businesses, Plume consolidates its position as the cloud controller of the world’s largest software-defined network (SDN). –
PALO ALTO, Calif .– FeatherÂ®, the pioneer of personalized communications services, today announced it has closed $ 300 million in a new round of minority equity investing led by SoftBank Vision 2 Fund. This round brings the company’s valuation to $ 2.6 billion, with $ 697 million raised to date. The investment will continue to drive research and development, sales and marketing, new partnerships and acquisitions as Plume continues its global expansion and hyper-growth. In the last two quarters since its previous round of equity investment by Insight Partners, Plume has added more than 13 million new homes, more than 350 million new managed devices to its global cloud platform and has acquired more than 60 new communications service provider (CSP) customers. .
More than 240 multi-system cable operators (MSOs), telecommunications companies and fixed wireless access operators of all sizes around the world rely on Plume as their primary vehicle to increase their revenues, increase customer satisfaction and retention, accelerate the speed of service and innovation, reduce expenses, avoid the commodification of broadband and extend their service area beyond their broadband footprint. Recently, Plume made the HomePass â¢ smart home service available to 25 million UK homes, in partnership with Virgin Media, including homes in areas not yet covered by the provider’s broadband network footprint.
âThe pandemic has dramatically accelerated the adoption of digital services, increasing our reliance on smart devices,â said Nagraj Kashyap, managing partner of SoftBank Investment Advisers, who has joined the board of Plume. âThrough its innovative cloud data platform, we believe Plume’s consumer-centric approach provides customers with reliable connectivity at home and beyond. We are delighted to partner with Fahri and his team to support their ambition to reinvent smart space services globally.
The technology powering smart spaces, such as homes and small businesses, has seen massive adoption over the past decade, especially the past two years. SoftBank believes that there will be trillion devices connected by 2025, but CSPs have struggled to optimize and deliver exceptional experiences for the modern consumer. Plume solves this problem by delivering a suite of AI-driven, cloud-controlled services for individuals and small businesses. These services include adaptive and self-optimized WiFi, secure parental and access controls, advanced device security, motion detection, and back-end applications for CSPs, such as predictive assistance tools and the service and network analysis. The data pipeline of these connected devices and services provides unique insight into smart home and small businesses.
âPlume leads the industry with a cloud-based, big data and open source customer experience management platform that enables communications service providers to enhance the Wi-Fi experience. at home for clients while dramatically minimizing their operating expenses, âsaid Anirudh Bhaskaran, Senior Industry Analyst at Frost & Sullivan.
Customers benefit from Plume’s ever-expanding platform through OpenSync â¢, the most widely supported open source silicon-to-cloud framework for smart spaces. With OpenSync, CSPs can decouple their service offerings from hardware and quickly organize and deliver new services on a multi-vendor, open platform architecture. Managed by a highly scalable cloud control plane, new services can often be delivered without new equipment, reducing capital expenditure and extending the useful life of existing infrastructure. Since its inception in 2018, OpenSync has grown to power over 39 million access points and switches across a wide range of Software Development Kit (SDK) and Customer Local Equipment (CPE) platforms. on silicon, and has attracted many third-party developers and contributors. .
âOur explosive growth over the past few years can be explained simply: Plume has reinvented the way services for smart spaces are organized, delivered at scale, managed and supported. We are moving beyond the limits of legacy approaches that combine hardware and services into a ‘box’ that stifles the ability of CSPs to introduce and scale new delicious experiences for consumers quickly and efficiently, âsaid Fahri Diner, founder and CEO of Plume. “Our vision and ambitions are perfectly aligned with those of SoftBank, and we are grateful for their support and confidence in Plume.”
Plume has over 475 employees and continues to hire at a rapid pace for both remote and in-person positions. To join the growing Plume team, visit the careers page here.