OpenVault, a provider of of SaaS-based revenue and network improvement platforms and data-driven insights for the broadband industry, today announced a strategic funding event that is intended to fuel the next stage of the company’s growth. OpenVault reports has secured significant funding from three existing customers – Service Electric Cablevision, Service Electric Cable TV & Communications, and Blue Ridge Communications.
OpenVault said the new funding infusion will be targeted to help accelerate OpenVault’s growth both domestically and internationally– most notably in Europe and Latin America.
Service Electric Cablevision, Inc. (SECV) is a Pennsylvania provider of residential and business Internet, TV, and phone services and the founder of the cable television industry. SECV offers Internet download speeds up to 1 Gig, Plume Whole-Home Wi-Fi, IPTV with Cloud DVR powered by TiVo, convenient features like TV Everywhere (TVE), and more. SECV serves over one hundred thousand (100,000) subscribers and one hundred (100) Pennsylvania communities in three operating regions.
A successor corporation to the nation’s first community antenna television system, Service Electric Cable TV, Inc. offers broadband internet, cable television and telephone services in the Lehigh Valley cities of Allentown, Bethlehem and Easton, and in surrounding areas in eastern Pennsylvania and western New Jersey. Service Electric Cable TV says it "provides the fastest and most reliable Internet service in the Lehigh Valley with no monthly limit, as well as fast, reliable, eero whole-home Wi-Fi."
“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.”
OpenVault and OpenVault Europe GmbH are among the leading providers of broadband technology platforms and data-driven insights into worldwide broadband consumption patterns. The companies’ cloud-based, SaaS solutions and tools help service providers optimize network performance, increase revenue and improve subscriber satisfaction. OpenVault tools aggregate and analyze the resulting market data to provide operators with granular views of consumer usage that can be used to anticipate residential and business broadband trends.
“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.”
Blue Ridge Communications is a regional cable television, Internet and voice over IP provider that serves much of the Poconos area and central Pennsylvania in the United States. Products available include analog and digital cable television, HD television programming, PenTeleData Broadband Internet service, and Blue Ridge digital phone service.