IoT connectivity management platform developer floLIVE has raised $21.5 million in a series B financing round led by 83North, and with the participation of Dell Technologies Capital, Saban Ventures and Qualcomm Ventures LLC.
floLIVE’s Connectivity Management Platform combines globally distributed core networks, which are centrally controlled and managed over the cloud. This layout allows its customers to benefit from local connectivity in its ever-growing geographic footprint while complying with emerging regulations and ensuring high performance, low latency and improved coverage.
Headquartered in London, the company's research offices are in Bnei Brak.
As part of this round, floLIVE has announced the appointment of Nir Shalom as its new CEO.
"After a comprehensive search process, we are pleased to have found an outstanding individual to assume leadership of our young company and turn it into the leading provider of Global Connectivity Management Services," said floLIVE chairman Boaz Goldman. "Nir brings extensive experience in leadership and management of technology companies and has intimate knowledge of the telecom industry"
Shalom said, "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. Many solutions in the market provide some of the required elements, but no single vendor offers a holistic service like ours."
83North partner Yoram Snir said, "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. 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."
Published by Globes, Israel business news - en.globes.co.il - on February 4, 2020
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