PALO ALTO, Calif. – Smart Home Services pioneer Plume has closed a new financing round of $85 million. This includes $60 million in Series D preferred equity and $25 million in debt financing, bringing Plume's total equity funding to $123 million. The new investor syndicate, including Charter Communications, Qualcomm Ventures, Belkin, and Service Electric Cablevision, took approximately 75% of the Series D round. Existing investors, including Liberty Global and Shaw Communications also participated in the round. The debt facility was provided by Silicon Valley Bank and WestRiver Group. Andrew Ip, Senior Vice President, Emerging Technology & Innovation of Charter Communications joined Plume's Board of Directors.
Led by Fahri Diner, Co-founder and CEO, Plume provides a Consumer Experience Management (CEM) platform as a cloud SaaS offering. Adopted by over 30 leading communications service providers including Comcast, Charter, and Armstrong in the US, Bell and Shaw Communications in Canada, Virgin Media, VOO, and Melita in Europe, and J:COM in Japan, the Plume platform enables the curation, delivery, support, and management of personalized Smart Home Services for consumers. The Smart Home Services category is a primary growth vector for forward-looking service providers looking to differentiate broadband offerings while improving customer retention.
With over 650 million devices communicating with 16 million OpenSync switches across 14 million households, Plume's cloud controller operates the largest software-defined network in the world. Created and open-sourced by Plume in 2018, the OpenSync framework is the fastest growing initiative of its kind that enables the curation, delivery of support and services, and management of devices throughout the smart home.