Plume, a US-based online communication software developer backed by multiple corporates, has raised $300m in a funding round led by internet and telecommunications conglomerate SoftBank’s Vision Fund 2, at a $2.6bn valuation.
Founded in 2015, Plume has developed an artificial intelligence-driven platform that helps internet service providers improve their customers’ home wifi connection speed while optimising cybersecurity, access and parental controls and internet-of-things security.
The company plans to use the funding to drive research and development, strengthen its sales and marketing divisions, create new partnerships, and expand through acquisitions.
The round brought Plume’s overall funding to $697m. It had secured $270m in a series E round backed by growth equity firm Insight Partners at a $1.35bn valuation in February 2021.
Plume had previously raised $60m in a February 2020 series D round featuring mass media groups Liberty Global, Charter Communications, Service Electric Cablevision and Shaw Communications, consumer electronics producer Belkin and semiconductor technology provider Qualcomm.
Qualcomm and Liberty Global took part in the round through their respective corporte venturing arms: Qualcomm Ventures and Liberty Global Ventures. The equity funding was secured alongside $25m of debt financing provided by Silicon Valley Bank and WestRiver Group.
The company had already collected $37.5m in a 2017 round led by Comcast Cable, a subsidiary of mass media group Comcast.
Liberty Global Ventures also participated in the 2017 round, alongside Shaw Communications, electronics manufacturer Samsung and conglomerate Sumitomo, which invested through Shaw Ventures, Samsung Venture Investment and Presidio Ventures respectively, in addition to Jackson Square Ventures.