Funding from Service Electric companies and Blue Ridge Communications will drive global growth and infrastructure expansion
Hoboken, NJ; Oct 4, 2021 – OpenVault, a market-leading source of SaaS-based revenue and network improvement solutions 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 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.”
About Service Electric
Service Electric Cablevision, Inc. (SECV) is a leading Pennsylvania provider of residential and business Internet, TV, and Phone services and the founder of the cable television industry. SECV continues to deliver new and improved content and products to its customers. The company 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. For more information, please visit www.secv.com.
About Service Electric Cable TV, Inc.
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 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. For more information, please visit www.sectv.com.
About Blue Ridge Communications
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. For more information, please visit www.brctv.com.
OpenVault and OpenVault Europe GmbH are market-leading sources of broadband technology solutions 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 and OpenVault Europe aggregate and analyze the resulting market data to provide unparalleled granular views of consumer usage that can be used to anticipate residential and business broadband trends.
For more information, please visit openvault.com.
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