Israeli startup SQream inks $20 million deal with tier-1 mobile operator
SQream's data acceleration platform will enable the cellular operator to improve the quality of its service for subscribers, including minimizing system downtime and reducing network costs
SQream's data acceleration platform will enable the cellular operator to improve the quality of its service for subscribers, including minimizing system downtime, reducing network costs and creating custom service packages. The new agreement increases SQream's market share in the telecom industry, with current clients already including, among others: AIS, LG Uplus, Orange and Cellcum. With an estimated 30 million mobile subscribers and a growing base of 5G subscribers, the operator required SQream’s solution as its data is increasing at an exponential pace.
SQream, which was founded in 2010 by Ami Gal and Kostya Varakin, raised $39.4 million in Series B+ funding last month. The round was led by Mangrove Capital Partners and Schusterman Family Investments, who joined existing investors, including Hanaco Venture Capital, Sistema.vc, World Trade Center Ventures, Blumberg Capital, Silvertech Ventures and the Alibaba Group.
“Mobile operators face intense competition, and are constantly seeking ways to provide subscribers with better quality of service, more personalized offerings and improved customer service," said Adi Gelvan, CRO at SQream. "With the emerging challenges facing operators due to the huge volumes of data from 5G and IoT, being able to rapidly access and analyze their massive data enables superior decision making to better compete and drive their business forward."