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Press Release -- May 21st, 2021
Source: kaloom
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Kaloom Raises Additional Capital to Fuel Expansion and Expedite Go-to-Market Strategy

Appoints Industry Veteran Stéphane Boisvert to President

Montreal – May 20, 2021 – KaloomTM today announced that as a part of new financing, Alternative Capital Group (ACG) has become the majority shareholder of Kaloom. The latest investment will help Kaloom speed up the deployment and market adoption of Kaloom’s Unified Edge Solution, including Cloud Edge Fabric, 5G User Plane Function (UPF) and network slicing. The new funding brings the total amount raised by Kaloom to USD 32.5 million, Series A.

“Kaloom's team possesses in-depth knowledge of the challenges facing major network providers, fixed and mobile network operators, data centers and cloud services providers, which has enabled the company to develop market leading solutions that deliver on promises of 5G enabled Edge. We are proud to support Kaloom, so that the company can fully realize the vision it set out to solve,” said Claude Delage, President of ACG.

Kaloom is in active Proof of Concept (PoCs) trials with over 10 tier-one global communication service providers. In April, Kaloom announced an expanded partnership with Telenor and the integration of its 5G packet core UPF within Telenor’s larger ecosystem of integrated partner solutions.

Kaloom Expands Executive Team with President

As a part of ACG’s investment, Kaloom has bolstered its already experienced leadership team by appointing Stéphane Boisvert as Kaloom’s President. Boisvert has held executive positions with numerous companies in Montreal, Toronto, and Silicon Valley, including, Pivotal (Acquired by VMware), Bell, Sun Microsystems and IBM. Boisvert is an expert in advanced cloud computing technologies and complex 5G network management with global experience developing technology partnerships. He has also been recognized for his leadership abilities in reaching multi-year growth-generating business agreements.

Kaloom’s founder, Laurent Marchand, will retain his role of Chief Executive Officer and focus more on accelerating innovation and feature velocity to serve the market demands. Boisvert will manage the business operations, growth and expansion through go-to-market partnerships with solution providers and system integrators worldwide.

“The investment from ACG is a vote of confidence for Kaloom’s disruptive solutions and business model,” said Boisvert. “If you look at what Kaloom is doing with its software defined architecture, Kaloom is leaps and bounds ahead of the competition. It would require a company to turn its business model upside down to replicate Kaloom’s technology and business model. I am looking forward to working with the phenomenal leadership team to bring to market a truly programmable, networking fabric, which is disrupting how differentiated services will be delivered from the 5G enabled cloud edge.”

Kaloom’s Cloud Edge Fabric™ is an automated and programmable network fabric with built-in support for network slicing featuring an embedded multi-Terabit per second (Tbps) 5G UPF that is a highly performant, scalable, low latency cloud native solution. Coupled with the Unified Edge solution, which integrates Red Hat OpenShift Container Platform into the Cloud Edge Fabric, the solution can streamline and optimize resources at the edge.

About KaloomTM

Kaloom is delivering a fully programmable and automated cloud-native edge center networking software solution that will disrupt how distributed cloud edge and data center networks are built, managed and operated by Telecom, Fixed and Mobile Operators, Data Center and Cloud Service Providers. Kaloom comprises technology veterans with proven track records of delivering large-scale networking, analytics, and AI-based solutions for the world’s largest networks. Kaloom is based in the Quartier de l’innovation in Montréal, Quebec. For additional information visit www.kaloom.com.

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