By Nancy Dahlberg
ESpace Networks, a South Florida startup building SaaS solutions for the satellite communications market, recently announced it has closed a $10 million Series A round from Columbia Capital, an Alexandria, Va.-based venture firm.
“Columbia Capital’s deep knowledge and understanding of the complex and high-value connectivity problems we are solving really stood out,” said ESpace Networks co-founder and CEO Benny Retnamony in their announcement about the funding. Prior to founding ESpace, Retnamony held engineering leadership roles in the industry, including at Global Eagle and EMC.
The funding will further advance ESpace Networks’ leadership enabling customers to intelligently manage connectivity for moving things, the company said.
On a mission to transform enterprise connectivity, the early-stage company founded in 2019 provides customers’ operating fleets visibility and control over their connectivity service and users’ quality of experience (QoE). ESpace Networks reports successful product launches with Fortune 500 customers in the cruise and commercial aviation industries that use their platform-as-a-service to measure and optimize their passenger QoE and orchestrate connectivity service across multiple providers using data and AI.
“We believe ESpace Networks’ solutions allow customers to take full advantage of a generational shift in the satellite connectivity market,” said Columbia Capital Partner Monish Kundra, in a statement. Columbia Capital has invested in over 175 companies in digital infrastructure, enterprise technology, and mobility sectors since its inception in 1989.
In conjunction with the new investment, the company announced two board appointments. Rupert Pearce, former CEO of satellite service provider Inmarsat, brings a long track record in the satellite and mobile broadband industry. Walé Adepoju, founder of IMDC and former CCO/COO of Global Eagle, has been a leading figure in the development of connectivity, media, and technology in commercial aviation, a key market for ESpace Networks.
Follow Nancy Dahlberg on Twitter @ndahlberg and email her at [email protected]
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