floLIVE, a trailblazer in the realm of global connectivity and IoT solutions, has just achieved a significant milestone. The company announced today that it has successfully raised $47 million in a Series C funding round. This latest investment will serve as a catalyst for floLIVE‘s ambitious plans to further enhance its global presence and introduce cutting-edge solutions to the market.
Addressing Evolving Connectivity Needs
In recent years, the global connectivity landscape has witnessed profound changes. Original Equipment Manufacturers (OEMs) and global enterprises are now more discerning and demanding in their IoT connectivity requirements. They seek a modern, highly available global connectivity solution that offers real-time visibility, network customization, robust cybersecurity, and regulatory compliance.
Simultaneously, Mobile Network Operators (MNOs) are transitioning from legacy consumer-oriented platforms to modern, cloud-based solutions. These solutions must meet the evolving demands of global enterprises in a cost-effective manner, transform their IoT business into a profitable venture, and reduce reliance on roaming agreements.
The floLIVE Advantage
floLIVE stands at the forefront of this transformation with its hyperlocal global network, which spans all continents. This unique, API-driven cellular data network serves as the foundation for a wide range of industries, including enterprises, OEMs, IoT Service Providers, and MNOs. Each entity benefits from a carrier-grade, secure, and versatile platform that enables them to build profitable IoT businesses and introduce value-added services.
“This is a really strong vote of confidence from our existing investors as well as new investor Greenfield Partners, reiterating the value of our solution, especially during a tough economic climate where technology investments have been decreasing substantially,” said Nir Shalom, CEO, floLIVE. “We have already transformed the landscape of global IOT connectivity with our hyperlocal, global platform that addresses the needs of both OEMs and MNOs. We’re excited to use this investment to increase our global footprint and deliver more value to our customers.”
The Power of Advanced Architecture
floLIVE’s solutions are underpinned by an advanced, cloud-native software architecture. This architecture not only accelerates time to market but also ensures a low total cost of ownership (TCO). Additionally, it offers unparalleled flexibility, catering to both LPWA and broadband use cases while delivering high performance and extended battery life.
Investor Confidence in floLIVE’s Journey
Investors like Greenfield Partners believe in floLIVE’s potential to revolutionize the IoT connectivity market. The company’s rapid growth and innovative solutions align with the changing landscape of IoT, promising transformative services that will reshape the industry.
Yoram Snir, Partner at 83North, recognizes the value that floLIVE brings to global enterprises and MNOs seeking robust and profitable technology partnerships.
Who’s Backing floLIVE?
The Series C funding round was co-led by Greenfield Partners and 83North, a testament to the confidence and trust placed in floLIVE by both new and existing investors. Joining this dynamic funding initiative are key players in the tech and investment world, including Qualcomm Ventures, Dell Technologies Capital, Saban Ventures, and Hazelnut Partners.
What’s the Plan?
floLIVE has a clear vision for the future. With this substantial investment, the company aims to:
Expand Global Reach: By forging partnerships with additional Mobile Network Operators (MNOs), floLIVE seeks to broaden its global footprint.
Advance Technology: The company plans to further develop its unique multi-IMSI over eSIM technology, setting the stage for even more robust connectivity solutions.
Satellite Integration: floLIVE is poised to launch an integrated satellite connectivity offering, ensuring connectivity in even the most remote areas.
Innovate Continuously: The funds will drive the creation of innovative solutions, including advanced location-based applications, network-based cybersecurity services, and secure data routing.
Empowering IoT Connectivity
floLIVE’s $47 million Series C funding is a resounding vote of confidence in the company’s pioneering solutions. Despite challenging economic conditions, floLIVE remains committed to transforming the global IoT connectivity landscape. With an expansive global footprint and a steadfast dedication to customer value, floLIVE is poised for an exciting journey ahead.
floLIVE secures $47 million in Series C funding, led by Greenfield Partners and 83North, to expand its global footprint and drive innovation in IoT connectivity solutions. The company aims to provide highly available, customizable, and secure connectivity to meet the evolving needs of global enterprises and Mobile Network Operators.
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