ISP oxio inks $25 million Series A round
Canadian internet service provider (ISP) Oxio is raising $25 million in funding from the likes of Free founder Xavier Niel, Investissement Québec, Desjardins Capital, Desjardins Entreprise, WNDRCO and Dispatch Ventures.
The company’s PR representatives told MTLinTECH that founder Marc-André Campagna founded the company in Quebec City. However, they prefer to list the company’s location as the “Province of Quebec,” since oxio operates via a completely remote workforce.
The internet connectivity platform will use the new funding towards Canadian expasion, as well as towards oxioOS, its proprietary internet operation system. oxio says its cloud-based operational system means it can operate with a leaner headcount and offer “transparent, fair pricing to its customers.”
Oxio uses the Videotron network in Quebec and recently launched internet service in Ontario, using the Rogers network. Here in Quebec, its plans include no contract, free installation, unlimited downloads and a free modem and router. Plans range from 15 mbps to 200 mbps, ranging from $37 to $80 per month.
The startup previously participated in the San Francisco-based accelerator program, Y Combinator.
“We have a very different way of looking at telecommunications; we see a separation between physical networks and digital providers, much like what cloud-computing has done with servers,” said CEO Marc-André Campagna. “We foresee a future where internet providers are divided into two pillars: companies that build and maintain physical networks and digital provider companies, like ours, that specialize in user-friendly internet services.”
“We’re pleased to again showcase our faith in oxio and its growth initiatives. Our involvement in this process aligns perfectly with our desire to complement Québec’s venture capital ecosystem, in addition to attracting foreign investment,” said Investissement Québec’s CEO, Guy LeBlanc. “This gives us the opportunity to work with promising Québec businesses shaping the technological infrastructure of the future.”
Oxio says its customer experience is a “huge shift from traditional telecommunication companies.” Accessibility is of the essence, says the company, who’s service can be ordered in five minutes. It also boasts that it is the only ISP offering local customer support and a 60-day money back policy.
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