Super intelligent virtual switchboard in the cloud
Deutsche Telekom (DT) is investing $25 million (€25m) in artificial intelligence (AI) specialist Teridion. The software start-up was founded in 2013 and has recruited 50 employees to its HQ in Ra’anana for its mission to develop intelligence to run virtual connections across business networks and DT needs help perfecting the art of creating disaggregated ethereal switchboards in the telco cloud.
Deutsche Telekom began working with Teridion in early 2022. Teridion offers DT and other telcos a virtual connectivity system that can dynamically build and use cloud-hosted a virtual switchboard according to their needs. This means their sites can connect to everything on any scale, from cloud centres through applications to individuals, from any place. To make this work, Teridion is deployed on 25 different cloud providers, and spreads its network across 500 points of presence worldwide.
Deutsche Telekom joins existing investors include Jerusalem Venture Partners, Singtel’s Innov8, and Magma Venture Partners. Teridion has raised a total of $80 million to date, acccording to a report in Middle Eastern tech newsite Calcalist.
“Deutsche Telekom is building a new product and we are playing an important role in it,” Yaron Ravkaie, Teridion’s CEO, told Calcalist. “We have managed to consolidate our technology but from a business perspective we haven’t broken through yet. Thanks to this investment and partnership we are expected to finally make that breakthrough.”
As part of the investment, Matthias Budde, Senior Vice President of Group Strategy and Transformation of Deutsche Telekom, is joining the board of Directors of Teridion, which currently makes the best cloud connectivity systems on the market with its virtual switchboard product portfolio, according to DT, which now wants that for its own networks.
“Our investment in Teridion is an important step from two perspectives: investing in this start-up is economically attractive,” said Srini Gopalan, Board member for Germany, and Managing Director, Telekom Deutschland GmbH. “We are convinced that Teridion will grow to be a leader in the cloud-based connectivity business. In addition, with Teridion’s product portfolio, we offer our customers the best connectivity currently available via the cloud. Business customers want to focus on their business and rely on optimal connectivity. They want it to be secure, agile, flexible and globally available – our partner’s portfolio delivers all of this.”