Fonds de solidarité FTQ and other existing investors participate in
new round of financing
MONTREAL & SAN JOSE, Calif.–(BUSINESS WIRE)–Kaloom,
an emerging leader in the fully automated data center networking
software market, today announced that it has raised a $10 million Series
A1 funding round. The latest financing was led by the Fonds de
solidarité FTQ, and Somel Investments, with the participation from MBUZZ
Investments. This cash infusion brings Kaloom’s total investments to
Kaloom is based in the heart of the Quartier de l’innovation in
Montreal, Quebec and in the Silicon Valley. The company was founded by
its CEO, Laurent Marchand, with the vision of providing the industry’s
most automated and programmable data center networking fabric, one that
will disrupt how data centers are built and managed by cloud providers,
telcos and enterprises.
The new funding will advance the development and sales of Kaloom’s
innovative automated Software
Defined Fabric (SDF), an industrialized software solution for open
networking white boxes, including Accton, Delta and others. Kaloom’s SDF
is ideally suited for hyperscale as well as distributed data center
environments that have a need for low latency, low cost, programmable
solutions. The company will also use the funds to expand its employee
base from 70 to 100 by the end of the year.
“We see a strong need among current beta and other potential customers
to do something ‘bottom up’ with the networking fabric, where the
switches self-discover and self-provision themselves automatically in a
network that ultimately supports programmability,” said Laurent
Marchand, CEO and founder of Kaloom. “The latest funding round is
validation of Kaloom’s approach and where we believe the industry is
moving; enabling us to grow faster than planned and respond to growing
“In a very short period, Kaloom has developed world class software for
data centers. We are excited to see such strong interest in the company
and its solution and see a bright future with Kaloom. After our initial
investment for Kaloom’s launch in 2017, we are pleased to continue to
support the company’s growth,” said Gaétan Morin, President and CEO of
the Fonds de solidarité FTQ.
The transaction is subject to standard closing conditions.
Kaloom Expands Executive Team with VP of Sales and VP of Marketing
During the past two months, Kaloom has bolstered its already experienced
leadership team by appointing Mike Rymkiewicz as the new vice president
of sales, and Thomas Eklund as Kaloom’s vice president of marketing.
Rymkiewicz has a proven track record of bringing new products to market
and ramping up sales at Amazon, Google and Oracle. Eklund oversees
Kaloom’s product vision, strategy and marketing. He comes to Kaloom
after working with companies recognized as leaders in AI, automation,
analytics and fully closed-loop systems, and with a successful track
record from previous companies including Xelerated, Jolata, Cipherlex
and SwitchCore, as well as Ericsson.
Kaloom is an emerging company developing a fully automated, programmable
data center networking software solution that will disrupt how cloud and
data center networks are built, managed and operated for enterprises,
cloud providers, gaming companies, data center operators and 5G wireless
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. The company is backed by
leading investors including Fonds de solidarité FTQ and Somel
Investments. Kaloom is based in the heart of the Quartier de
l’innovation in Montreal, Quebec and in the Silicon Valley. For
additional information visit www.kaloom.com.
About Fonds de solidarité FTQ
The Fonds de solidarité FTQ is a development capital investment fund
that channels the savings of Quebecers into investments. As at May 31,
2018, the organization had $14.3 billion is net assets, and through its
current portfolio of investments has helped create and protect 194,746
jobs. The Fonds is a partner in 2,839 companies and has 667,417
shareholder-savers. Find out more at www.fondsftq.com.