With increasing internet penetration and advancements in technology, our world is steadily moving towards a connected ecosystem. IoT or Internet of Things is a subset of technology that deals with interconnected devices and how they communicate with each other. There are multiple companies working in this field and the London-based floLIVE just made its mark. The startup has received a whopping investment of €19.47M in its Series B funding to expand its reach and grow globally.
Fresh funding and a new CEO
In its Series-B round of funding, floLIVE raised €19.47M, which was led by 83North. Dell Technologies Capital, Saban Ventures, and Qualcomm Ventures LLC also participated in the funding round. Alongside the funding announcement, floLIVE also announced the appointment of Nir Shalom as the company’s new CEO, who previously served as General Manager of AT&T Israel and Vice President of Network Application Development of AT&T.
“We are witnessing a growing demand for seamless, global and secure connectivity services among enterprises and are in a great position to serve this market with our advanced platform and deep market understanding”, said Nir. “Many solutions in the market provide some of the required elements, but no single vendor offers a holistic service like ours.”
floLIVE delivers secure, cloud-native global Connectivity Management Solutions for IoT
floLIVE was founded back in 2015. The company offers a cloud-based secure global Connectivity Management solutions for IoT. This service enables companies in the IoT domain to deploy, manage, and operate their IoT devices from anywhere in the world.
“We have great faith in the floLIVE team and are confident in their ability to be a leading provider of global connectivity solutions as-a-service”, says Yoram Snir, Partner at 83North. “floLIVE’s rich technology stack and overlying solutions have been field-proven for the last decade and are well positioned to serve the stringent demands of the IoT connectivity market.”
floLIVE’s services include local coverage on a global scale, pay-as-you-grow business model, performing regulatory compliance like permanent roaming and GDPR. With the influx of fresh funds, floLIVE says it will invest in expanding its presence in Europe, Asia and North America, and accelerating its market awareness programs.
Image credits: Pixabay
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