Plume is a start-up that created a mesh-WiFi service for broadband connectivity optimization, after which deliver it to home services. The Plume product is the platform based on mesh architecture – a single router with a series of nodes.
The recent round was led by SoftBank Vision Fund 2. Other investors are not revealed. However, it is known that among previous round investors were Insight Partners, Qualcomm, Liberty Global Ventures, Presidio Ventures. The money raised will be used for software platform development, as well as servicing more deals.
Plume, Palo Alto, California, was founded in 2015 by Fahri Diner. The biggest growth driver was the pandemic situation, when many people started working, studying from home, and the home Internet usage has increased. As of now, Plume provides its services to more than 35 million households, with 1.2 billion devices in total. The company partners with more than 240 million carriers such as cable companies, telcos, and wireless carriers.
“We’re the best at optimizing Wi-Fi connectivity in the home, but that is not what we’re about,” said Fahri Diner, – “…We focus on sophisticated security, which we believe will be the next big area that consumers will start paying attention to.”