PALO ALTO, Calif. — Plume, the U.S.-based Wi-Fi services platform provider behind Bell Canada’s Whole Home Wi-Fi service and more than 170 other providers’ smart home service offerings, announced today it has closed a US$270-million minority investment from global venture capital and private equity firm Insight Partners.
This brings the company to a US$1.35-billion valuation and its total equity funding to US$397 million, according to Plume’s press release. Plume says it will use the funding to further increase investment in research and development, as well as more aggressively pursue its sales, marketing and partnership strategies. As the company seeks to continue its rapid expansion, it plans to add employees in all of its offices across North America, Europe and Asia, says the release.
Today’s news follows Plume’s recent acquisition of Walleye Networks, a Kelowna, B.C.-based network and security intelligence solutions provider specializing in real-time network analytics and advanced metadata.
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