Kaloom announces Fonds de solidarité led US $10.7M Series A

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By Ted Liu

Kaloom Inc., a networking solution software developer of data centers, has announced the closing of US $10.,7 million Series A financing led by Fonds de solidarité FTQ, with the participation of Somel Investments Inc., MBUZZ Investments Inc., Griffin Fund II, LP and existing investor and management.

The financing closed in mid December 2016.

Based in Montréal and Silicon Valley, Kaloom is building the Kaloom Flow Fabric, a software networking solution for data centers that will allow all virtual network functions (VNF) to run at scale utilizing commodity hardware, merchant silicon and existing data center architecture. The benefits of the Kaloom Flow Fabric™ include a major reduction in cost while at the same time providing a massive increase in performance including ultra-low latency and vast scalability.

“Kaloom is building a solution that is critical and well timed as the demands on data center operators and customers increase and the hyper-scale data center market evolves to serve telecom, financial services, government, healthcare and related markets. The shift to open networking and white box appliances dictate that the old way of doing things in networking is rapidly coming to an end. Kaloom is well positioned, through its experienced management team and highly technical engineering group, to capitalize on this trend. We are also very excited that a company such as Kaloom will base its engineering, support and related functions in Montréal, thus taking advantage of the high quality, technical workforce available in the Province of Québec,” said Alain Denis, SVP of Innovation at Fonds de solidarité FTQ.

“I have spent my entire career in the networking industry. The seismic shift that is taking place in networking around hyper-scale, open networking and the rise of white box solutions is like nothing I have ever seen. The Kaloom solution is designed explicitly with this new wave fully in mind and will allow our customers to benefit from this shift and deliver unsurpassed performance, scale and reliability in a way never before seen. We are delighted to partner with our investors, including the Fonds de solidarité FTQ and Somel Investments as their vision and support enable us to begin our journey to transform the networking industry as we know it,” said Simon Williams, co-founder & CEO of Kaloom.

“By investing in Kaloom, we hope to establish an ecosystem in Québec supporting the explosive growth of companies developing smart technologies. It is our view that these technologies will bring with them a technological revolution, driven by the advancement of artificial intelligence, that is faster and more impactful than the industrial and social-media revolutions before its time,” said Sophie Gupta, Managing Director of Somel Investments Inc.

“The Kaloom solution represents the epitome of where networking is heading. I am very proud to be part of creating jobs in Québec while taking advantage of the strong technical talent that is available. I am also thrilled to partner with our tier one investors and thank them for their support. I look forward to an exciting future as we grow Kaloom to a world class company,” added Laurent Marchand, co-founder & CTO of Kaloom.

photo credit: Kaloom