MONTREAL, June 27, 2024 (GLOBE NEWSWIRE) -- gaiia, the innovative operating system designed specifically for Internet Service Providers (ISPs), has successfully raised US$13.2M in a Series A financing round led by Inovia Capital with participation from new investors GTMfund, General Advance, Simon De Baene and Manon Brouillette (ex-CEO of Videotron and Verizon Consumer Group) as well as existing investor YCombinator. This fresh funding will enable gaiia to scale and serve customers across North America, Europe and Latin America.
ISPs are the backbone of the world economy, providing the essential infrastructure that connects people globally. Despite their critical role, the telecom industry has the lowest Net Promoter Score (NPS) among all industries, highlighting significant gaps in customer satisfaction and service delivery. As a consequence, average annual churn rates for ISPs can reach levels of 20% or higher1. This makes reducing churn a top priority for ISPs and partly drives the aggressive war of marketing campaigns aimed at winning new subscribers from the competition.
Marc-André Campagna, CEO and co-founder of gaiia, emphasized the transformative potential of this funding for ISPs: “We are at the dawn of this new paradigm shift where the challengers of today will become the leaders of tomorrow. New innovative technologies - and capital - are now more accessible than ever for ISPs to deploy high-quality networks at a cheaper cost for their customers. gaiia will give them superpowers to care about their community.”
gaiia addresses the outdated and costly systems that many ISPs rely on by offering a comprehensive operating system that enhances customer experiences and operational efficiency. The platform includes a suite of tools such as marketing automation, messaging, online checkout, CRM, scheduling, and field service management. These features enable ISPs to acquire and retain customers while reducing operational expenses through advanced automated features.
“We believe gaiia is offering a tangible solution to established and emerging ISPs looking to redefine what operational excellence looks like”, said Inovia Partner Magaly Charbonneau. “With strong market momentum and a team that has firsthand experience with the pain points of operating an ISP, we are excited to be a part of their story and support them on their journey”.
About gaiia
Founded in 2021 and headquartered in Canada, gaiia is the first operating system designed for ISPs, helping them create amazing customer experiences. To date, gaiia has raised a total of US$26.2M. The company currently serves over 20 ISPs disrupting the telecom space globally and operates as a fully remote team of 50 people across North America.
For more information, please contact:
Shawn McIntyre
shawn@gaiia.com
1 Turn Down the Churn - Preseem (link).
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