Connectbase Raises $21 Million in Series C Funding
BOSTON — October 12, 2022 — Connectivity marketplace platform Connectbase today announced that it has raised $21 million in its Series C funding round, led by DigitalBridge Ventures, the InfraTech initiative of DigitalBridge Group, Inc. (NYSE: DBRG) (“DigitalBridge”). Connectbase secured the new equity investment to drive growth of its platform, fueled by the increasing global appetite for bandwidth. All existing Connectbase investors participated in the funding round, including Ascent Venture Partners, Harbert Growth Partners, Nauta Capital and Osage Venture Partners.
Led by Founder and CEO Ben Edmond, Connectbase is a marketplace that enables connectivity service providers access to the industry’s leading location data platform and associated workflows. The platform enables network sellers to connect, automate and price to drive growth, and the platform enables buyers to find new partners, connect and automate their quoting and ordering processes with insight. Connectbase digitizes and transforms the experience to enable buyers to directly connect to their ecosystem of service providers at scale.
The latest funding will be used to enhance the company’s Connected World platform capabilities, expand digital services into more global markets and grow its team – including its go-to-market organization. Connectbase will also expand its plan-to-order workflow capabilities to drive integration and insight for service provider users and to launch its new user interface to further enhance the user experience.
“Buying and selling network connectivity has been a slow, manual and labor-intensive process for far too long, impacting the customer experience, profitability and growth of the market,” said Edmond. “We launched Connectbase to solve that pain point by bringing together automation, location intelligence and an ever-expanding connected ecosystem. As a partner to the connectivity ecosystem, we help service providers execute the right deals, with trust and confidence, faster than ever.”
Alexandre Villela, Head of Ventures at DigitalBridge, said, “Connectivity is the lifeblood of our digital economy. Connectbase provides an industry-leading data platform that is being built to transform how connectivity is bought and sold across the globe. At DigitalBridge Ventures, we are excited to leverage our unique digital ecosystem presence to partner and collaborate with emerging leaders across the Infratech sector.”
Connectbase has earned a spot on the Inc. 5000 list as one of the fastest-growing private companies in America two years running. The company was also named to Inc. magazine’s annual list of the Best Workplaces for 2021. Other recent accomplishments include:
- Serving 28 of the top 30 network operators in the U.S. market
- Over 30,000 users of the platform
- Over 11,000 network operators profiled around the world with location-specific insight into the last mile
- Over 1.7 billion sites globally with network intelligence, curated and built with insights across over 80 billion updates monthly
- More than $10 billion in quoted connectivity in the past year, with platform growth over 100% in quote volume annually