floLIVE, a provider of secure, cloud-native global CMS for the Internet of Things has announced a $21.5 million financing round and the appointment of Nir Shalom as the company’s new CEO.
Led by Shalom, floLIVE will invest the funds to increase its presence in Europe, Asia and North America as well as accelerate its market awareness programs.
Powered by its globally distributed connectivity cloud, floLIVE will address the growing demand among enterprises for secure, seamless connectivity across the globe, with unified management and control.
The funding round was led by 83North, and included Dell Technologies Capital, Saban Ventures and Qualcomm Ventures LLC.
floLIVE’s Connectivity Management Platform is a unique blend of globally distributed core networks, centrally controlled and managed over the cloud.
Enterprises are moving from product sales to service sales, as part of their strategy to promote services that will ensure recurring revenues and obtain better customer stickiness; to enable this evolution, they must assure their devices are always connected, secure and compliant with local regulations in each country.
“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 CEO Nir Shalom.
“Many solutions in the market provide some of the required elements, but no single vendor offers a holistic service like ours.”
“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”, said 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.”