Cloud services company Connected2Fiber says it has closed a $5.3 million funding round. Ascent Venture Partners, Osage Venture Partners, Nauta Capital, and NXT Ventures participated in the round, which the company says it will use for product development and go-to-market activities. The company previously attracted $8 million in a Series A round closed in January 2018 (see "Connected2Fiber pulls in $8 million in Series A round").
The Connected World, Connected2Fiber's core SaaS platform, is designed to provide trusted, location-based insight and applications to network sellers and buyers. The platform automates manual sales and marketing processes, from plan to price, as well as delivers trusted location insight, according to the company. Connected2Fiber says its customer base currently manages more than 225 million locations within The Connected World globally.
"In my experience, there has been a gap in the connectivity space for quite some time around location intelligence," commented Marc Dyman, chief revenue officer of fiber-optic network services provider FiberLight, via a Connected2Fiber press release. "Whether selling or buying connectivity, market players have often had to rely on manual and inefficient methods of understanding which networks are connected at which locations and what tenants occupied those locations. Connected2Fiber has solved this problem for FiberLight with location-specific insights and applications, making sales enablement, market analysis, and sharing fiber routes within a trusted ecosystem much more seamless."
"There's tremendous opportunity in the market for Connected2Fiber to serve as the system of intelligence regarding location and network serviceability, and to enable our clients with a powerful set of applications and APIs to power participation, targeting and pricing use cases," said Ben Edmond, founder & CEO of Connected2Fiber. "Our investors share this viewpoint, and we'll be putting this capital to work in order to further improve our product and customer experience."
"Connected2Fiber has demonstrated its ability to add enormous value in the connectivity market to a broad range of clients, from Tier 1 networks to infrastructure operators," added Matt Fates, general partner at Ascent Venture Partners. "Its location-based data and applications have become the system of record for clients. This latest investment will help accelerate the impressive growth that Connected2Fiber has already demonstrated."
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