OpenVault secures strategic investment
October 4, 2021
OpenVault, a source of SaaS-based revenue and network improvement solutions and data-driven insights for the broadband industry, has announced a strategic funding event that is intended to fuel the next stage of the company’s growth.
OpenVault has secured significant funding from three existing customers – Service Electric Cablevision, Service Electric Cable TV & Communications, and Blue Ridge Communications. The money is targeted to help accelerate OpenVault’s growth both domestically and internationally– most notably in Europe and Latin America.
“The Service Electric companies and Blue Ridge share a vision of the connected future and their collaborative approach to working with technology companies is helping to spur innovation that is driving the broadband industry forward,” said Mark Trudeau, CEO and co-founder of OpenVault. “Their investment will bring a new dimension to our long-term partnership, and we’re excited to use the funds to expand our reach and accelerate our growth.”
“As broadband has increased in prominence, companies such as OpenVault have played essential roles in supporting our delivery of high-quality services,” said David Masenheimer, President of Blue Ridge Communications and Pencor Services, Inc. “By making a direct investment in OpenVault, we can be financial catalysts to their growth, while providing strategic guidance that can help them align product technology development with industry needs.”