Fonds de solidarité FTQ and Somel Invest C$10 Million in Montréal Start-Up
Highlights
- Development of a next-generation network management solution for hyper-scale data centres
- Solutions to resolve the problem of network saturation caused by the exponential growth of data on the Internet, cellphones, video, social media, Internet of Things, artificial intelligence and soon, 5G networks
- Creation of a new segment in Québec’s tech industry
- A team of highly experienced technology veterans based in Montréal
- Collaboration with Québec universities
MONTRÉAL, March 24, 2017 /CNW Telbec/ – The increased use of mobile devices, social media and cloud computing, combined with the growth of online video and the availability of new content, is pushing data centre networks beyond their capacity. And the problem will only get worse with the advent of the Internet of Things, smart cities, artificial intelligence and self-driving cars. Enter Kaloom, a Montréal IT start-up bent on resolving the issue of saturation.
Kaloom is building a solution that is critical and well timed as the demands on data center operators and customers increase and the hyper-scale data center market evolves to serve telecom, financial services, government, healthcare and cloud computing markets.
Founded by engineer Laurent Marchand, Kaloom develops next-generation software for data centres. Such infrastructures, which are the lifeblood of a booming market, will increasingly require innovative, effective solutions. This is the very market that Kaloom plans on taking by a storm.
Quotes
“The Kaloom solution represents the epitome of where networking is heading. I am very proud to be part of creating jobs in Quebec while taking advantage of the strong technical talent that is available. I am also thrilled to partner with our tier one investors and thank them for their support. I look forward to an exciting future as we grow Kaloom to a world class company.”
Laurent Marchand, CTO de Kaloom
“We’re proud that companies such as Kaloom are choosing to build their success on Québec talent and know-how. We want to create a world-class digital economy that is attractive, open, and recognized internationally for its knowledge, ecosystem, and innovation. With this in mind, our Digital Economy Action Plan (DEAP) is the perfect driver to propel Québec’s economy towards a digital future.”
Dominique Anglade, Minister of Economy, Science and Innovation and Minister Responsible for the Digital Strategy
“With its world-class team, start-up Kaloom is a testament to the momentum of Québec’s IT sector. The Fonds de solidarité FTQ supports data centres, software developers and providers of infrastructure solutions to ensure Québec carves out a place in the world of next-generation Internet. In so doing, we help create jobs for a highly skilled workforce.”
Gaétan Morin, President and CEO, Fonds de solidarité FTQ.
“We’re investing in Kaloom in the hopes of building an ecosystem in Québec that will support the explosive growth of intelligent technology developers. We think these technologies and the advancement of artificial intelligence in particular will spark a technology revolution that will have a greater impact and happen more quickly than the industrial, Internet and social media revolutions.”
Sophie Gupta, Managing Director, Somel Investments Inc.
Kaloom comes from the Latin word “caelum” which means “cloud.” Kaloom is developing a network solution for cloud computing.
About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ is a development capital fund that channels the savings of Quebecers into investments. As at November 30, 2016, the organization had $12.2 billion in net assets, and through its current portfolio of investments has helped create and protect over 187,000 jobs. The Fonds is a partner in more than 2,600 companies and has nearly 618,000 shareholder-savers. fondsftq.com.
About Somel Investments Inc.
A small-cap investment firm, Somel Investments was founded in 2015 following the sale of a global family-owned telecommunications firm. The firm invests only in high-tech businesses and especially in companies in the field of the Internet of Things and those that use such applications. Somel Investments relies on the technical and operating expertise of its founding members to support the companies in its portfolio and help them achieve their growth objectives.
