CPE News Brief (10.6.2023) – gaiia, oxio rebrand, has raised $13 million in seed funding led by YCombinator with participation of Kima Ventures, and oxio alumni.
Led by co-founder Marc-André Campagna, gaiia is a provider of connectivity operating systems (OS) – “an all-in-one solution for billing, operations, automation and everything in between”
On March 3, 2023, Cogeco Connexion acquired the telecommunications operations of oxio for a purchase price of $100 million. As part of the transaction, Cogeco Connexion licensed gaiia, oxio’s proprietary software, and use it to serve oxio’s customers.
oxio previously raised $25 million in Series A funding in June 2021 led by Xavier Niel, founder of Free, with participation of Investissement Québec, Desjardins Capital, Desjardins Entreprise, WNDRCO, Dispatch Ventures, and others. oxio said the closing of Series A brought then total funding to $40 million.
gaiia will use seed funding to accelerate development roadmap and integration library to allow gaiia to onboard CSPs at a faster rate and to provide customers with more tools and flexibility.
photo credit: gaiia
gaiia Secures $13M Seed Round from Y Combinator, Kima Ventures, and oxio Alumni to Revolutionize the Connectivity Industry
QUEBEC CITY, Oct. 04, 2023 (GLOBE NEWSWIRE) — gaiia, an emerging force in connectivity operating systems (OS), marks a significant milestone with the successful closure of a $13 million seed funding round. Notable investors include YCombinator, Kima Ventures, and oxio alumni, underscoring the industry’s recognition of gaiia’s transformative potential in reshaping the connectivity landscape.
The Founding Story: Addressing the Internet Service Provider (ISP) OS Gap
gaiia’s founding story is both compelling and practical, rooted in the experience of its ceo + cofounder, Marc-Andre Campagna. With a history of leading oxio, one of Canada’s fastest-growing ISPs, Campagna witnessed firsthand the challenges of managing ISP operations effectively. Frustrated by manual processes and the complexity of integrating multiple software solutions, he set out to create a comprehensive platform that would deliver an exceptional customer experience — the birth of gaiia.
“recognizing the need for an operating system that could deliver outstanding digital customer experiences without compromising growth and profitability, we assembled a team of top-tier product managers, engineers, and business operators. Today, gaiia stands as the solution that we wish we had earlier at oxio. Now, we’re excited to extend this solution to forward-thinking Communication Service Providers CSPs worldwide.” – Marc-Andre Campagna
oxio’s $100m Exit
In March 2023, Marc-Andre sold oxio for $100M to Cogeco Connection. The strategic sale marked a turning point, enabling gaiia to pivot entirely towards providing software solutions to ISPs globally. Notably, post-transaction, oxio became gaiia’s first official customer, cementing the journey of gaiia alongside the success of oxio.
The evolution of gaiia is intricately interwoven with oxio’s growth. gaiia was purpose-built to act as the catalyst for oxio’s expansion and to introduce operational efficiencies at scale. Now, in a formal SaaS partnership, oxio exemplifies the advantages that gaiia offers to CSPs.
Empowering CSPs on a Global Scale
The $13 million in funding will allow gaiia to accelerate their development roadmap and integration library. Ultimately, allowing gaiia to onboard CSPs at a faster rate and providing customers with more tools and flexibility than any other software on the market.
gaiia’s impact now extends beyond oxio. In just a few months as an independent entity, gaiia has successfully onboarded and delivered significant value to multiple ISPs in the United States and Latin America.
gaiia’s mission is to become the world’s first network-agnostic operating system (OS) for connectivity. With an ambitious vision to seamlessly connect every individual and their devices to the internet.
A Bright Future Ahead
“We’re excited to secure this funding, affirming our commitment to revolutionizing the connectivity software industry,” said Marc, ceo + cofounder of gaiia. “Now, we’re carefully building our customer base, partnering with providers that share our vision for growth, customer experience, and innovative technology.”
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