KPN Ventures provides growth capital to CUJO AI to expand and accelerate international growth
El Segundo, California – (October 18th, 2018) – CUJO AI, a next-gen artificial intelligence company today announces an investment from KPN Ventures, the venture capital investment arm of KPN. The capital provided is part of a series B investment round to fuel international growth.
CUJO AI will use the capital to accelerate growth in building and expanding new AI-driven services for network operators. With this investment, CUJO AI will continue to evolve AI-powered technology and to meet growing international demand. The company is actively working with several network operators.
With CUJO AI Network, operators can reduce costs, save time, decrease customer churn, and create brand loyalty. Powered by machine learning algorithms, CUJO AI technology solutions not only helps Network Operators to protect the connected homes of their customers but also to improve the connected experience. These solutions include security, advanced device identification, as well as advanced parental controls.
“We work closely with the network operators to develop and deliver AI driven solutions powered by machine learning and real-time data. Our goal is to scale the security and personalize the customer experience. Network Operators that implement CUJO AI solutions will be able to offer personalized network visibility for their users,” said Einaras von Gravrock, CEO of CUJO AI. “We are proud that KPN Ventures trusts our technology and wanted to invest in our AI-driven solutions.”
Herman Kienhuis, managing director of KPN Ventures: “As the number of connected home devices grows, home network management and security becomes increasingly important. The CUJO AI team has developed best-in-class software for this purpose and is already working with leading U.S. players to bring this to consumers. Through our investment, we aim to support CUJO AI in bringing their solution to European markets as well.”
Founded in 2015, CUJO AI has grown rapidly to 170 employees. The company has won numerous technology awards, including the ‘Best Fixed Telecom Opportunity of the Year’ at the Telecom Council SPIFFY Awards. Also, the company was recognized as a Technology Pioneer 2018 by the World Economic Forum in May.