- The investors were the Quebec government and existing shareholder Alternative Capital Group
- Kaloom, which works with service providers around the globe, plans to expand in Japan
- The company’s previous backers include Fonds de solidarité FTQ, Somel Investments and MBUZZ Investments
Montreal-based Kaloom, a programmable and automated cloud-native edge center networking software provider, has secured $21 million in financing. The investors were the Quebec government and existing shareholder Alternative Capital Group.
This latest investment will support Kaloom’s go-to-market strategy and extend its current hardware strategy by supporting additional platforms like SmartNICs and Servers. It will also allow the company to ramp up sales, and help its global service provider customers benefit from burgeoning Network transformation and 5G-Edge market opportunities.
Kaloom works with service providers around the globe and plans to expand in Japan, recently registering its business in the country.
“ACG is proud to support Kaloom’s continued business growth as the company realizes the vision it set out to achieve,” said Nicolas Beauchamp of ACG, in a statement. “Kaloom’s innovative solutions help network providers overcome the major challenges of Network Transformation and 5G-Edge deployments. With Kaloom’s help, network providers can deliver the high-speed, low-latency performance that users demand. We look forward to supporting Kaloom in this next growth phase.”
“With this investment, we can harness our momentum and continue to serve our global customers while expanding into new markets,” said Laurent Marchand, Kaloom Founder and CEO. “Our mission is to empower service providers and operators worldwide with automated and fully programmable distributed edge network solutions that transform underlying network infrastructure and reduce total cost of ownership. This investment is critical to achieving that mission globally and enabling 5G-Edge and private 5G monetization in our industry.”
Kaloom’s previous backers include Fonds de solidarité FTQ, Somel Investments and MBUZZ Investments.