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KodaCloud Bags $10M in Series A

CAMPBELL, CA, First company to offer enterprise customers with Cloud Service Wi-Fi powered by Artificial Intelligence has raised a Series A investment.
KodaCloud Inc., the first company to offer enterprise customers with Cloud Service Wi-Fi powered by Artificial Intelligence (AI), today announced it has come out of stealth and has reached two milestone achievements after just a few months of commercial service:

KodaCloud's disruptive services model requires no investments in equipment or software licenses by customers or managed services partners and is already commercially available. Research firm Dell'Oro estimates the market for cloud managed Wi-Fi to reach $1+ Billion by 2020.

'KodaCloud is speeding up the industry's move from buy, own and manage to Network as-a Service (NaaS) model for enterprise customers,' said Bernard Herscovici, founder and CEO of KodaCloud Inc. 'We are very pleased with the support we are receiving from the MSP community and the positive feedback from enterprise customers after just a few months of commercial service.'

KodaCloud's service consists of a network of Wi-Fi Access Points (AP) that are shipped directly to customer location(s), without the need for a customer to buy equipment or a partner to manage an inventory or shipments. With the use of web-based dashboard, or the use of a smartphone app, a customer or partner can install and activate a Wi-Fi business network in minutes with AP-to-cloud activation using existing LAN and Internet. Without the need to buy equipment or software licenses, and for the cost of most vendors' maintenance contracts, KodaCloud delivers and manages Wi-Fi networks for a low monthly fee. MSPs benefit from unprecedented profit margins with KodaCloud's recurring revenue model and customer-direct shipments.

'The key value of KodaCloud's disruptive service is that customers and partners do not have to carry the burden of buying and managing equipment and inventory,' said Iain Gillott, president and founder of iGR. 'Rather than simply monitoring network status from the cloud, KodaCloud actually manages the network in real time. Customers and partners use the KodaCloud app to monitor their network and take action as necessary, direct from their smartphone or mobile device.'

KodaCloud's service monitors, learns, adapts and automatically acts to adjust interference parameters in all customer networks using learning and real-time calculations with contextual information in real time, when and where needed without the active involvement of a network IT person. The patented AI service reduces or removes the need for dedicated IT teams to constantly monitor or manage network interference, or respond to network alerts that identify a problem without a solution.

'The cloud service delivers on its promise,' said Scott Minke and Kyle Vorwerk, founding partners at iTrust IT, LLC. 'With KodaCloud, iTrust IT has improved the ability to deliver better customer service, more rapidly and profitably, to both our existing as well as new clients, across a number of different verticals - without making investments into our own cloud or Network Operating Center (NOC).'

Service Overview

No hardware or software license to buy and free software updates
24/7 Wi-Fi Monitoring and automatic network troubleshooting
No Wi-Fi expertise, certification or tools needed
KodaCloud replaces or updates the network access points as needed
View or manage an entire Wi-Fi network from a smartphone or Web Portal
Ecosystem Benefits from Cloud Service Wi-Fi

SMB, hotels and multi-location enterprises benefit from an affordable monthly Wi-Fi network-as-a service which reduces cost and network complexities. With KodaCloud, a customer's network received regular software and feature updates free-of-charge.
Managed Services Partners (MSP) benefit from recurring monthly revenue, even after a customer's network is up and running. With KodaCloud, there's no need to carry a large inventory of access points and MSP benefit from KodaCloud-to-customer direct shipments, and unprecedented margins.
KodaCloud is a service partner to enterprise customers and MSPs. KodaCloud's business is about growing recurring monthly revenues with great service and innovations.
Supporting quotes:

Comcast Ventures
'For big ideas to become a reality, a proven and experienced team makes a big difference,' said Louis Toth, managing director. 'We've invested in this team before and believe KodaCloud has the ability to change how enterprise networks are built and managed.'

Celtic House Venture Partners
'KodaCloud is addressing the intersection of wireless, cloud and enterprise services markets,' said Tomas Valis, partner. 'The combined growth opportunity is tremendous.'

Voyager Capital
'KodaCloud's recurring revenue services model is a spark of innovation in a market that's dominated by one-time equipment selling,' said Bill McAleer, partner. 'KodaCloud's Cloud Service Wi-Fi push the boundaries of enterprise networking and is disrupting existing business models.'

About KodaCloud Inc.

KodaCloud, formerly Art2Wave, is the first company to offer enterprise customers with Cloud Service Wi-Fi that's powered by patented Artificial Intelligence (AI). KodaCloud is a privately held company with Series A investments from Comcast Ventures, Celtic House Venture Partners and Voyager Capital. KodaCloud is based in Silicon Valley, California with offices in Ottawa, Canada.
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