Brazilian startup Beegol has raised $4.2 million in a Series A for its machine learning-based diagnostic and self-healing technology aimed at reducing costs for network service providers.
Beegol, onomatopoeic after the name of the Beagle dog, can detect ISP network problems and, in many cases, can perform repairs with remote technology built into the firmware chips of most modems.
The company’s goal is to improve the reliability of Internet services and enable Internet service providers to improve reliability while saving money on deploying repair trucks.
“It’s important that operators have machine learning and diagnostics to understand the root causes of these failures so they can prevent them from happening again or determine if this is their problem or if it could it could be a power line issue,” said Charles Hong, Chief Strategy Officer. Director and co-founder of Beegol. “It could be a problem affecting, for example, a Zoom server if our communications broke down just now.”
The increased complexity of networks increases the number of potential points of failure and increases the complexity of diagnosing problems. Without good diagnostics, ISPs and telcos cannot improve reliability.
The company’s business advantage is that it has managed to integrate its software into the firmware of the dominant chipsets used in the manufacture of modems. Firmware software offers unparalleled advantages in terms of remote diagnostic and repair tools.
Collecting data allows operators to take advantage of the technology’s machine learning capabilities to better understand issues and where future issues are likely to arise.
Machine learning algorithms develop specific use cases for each problem. Gilberto Mayor, CEO and Co-Founder, explains, “When you watch Netflix on iPad, your iPad has to work well, your Wi-Fi has to work well. There should be no interference from your neighbor’s channel. Wi-Fi hotspot. Local access should work fine. The transport network should work well.
The user is likely to call his Internet service provider, regardless of who is responsible for it, and dissatisfaction with the service is one of the main reasons for changing providers. Beegol allows ISPs to quickly discover a problem and start resolving it before any customer calls. ISPs can also remotely initiate certain repair functions from firmware.
Beegol recently announced that its remote diagnostics technology will be incorporated into the open industry standard Reference Design Kit (RDK), which is ubiquitously used by nearly all video and internet network providers to manage network services. . He also joined RDK’s technical advisory board.
Beegol already has customers among major ISPs and unlike many Series A startups, it already has revenues of over $8 million and around 43 employees.
Hong said the company waited several years to raise funds in order to retain greater ownership.
Sometimes a standalone startup will take venture capital investment, not because it needs the money, but because it hopes to get publicity from publications covering its industry. This helps provide some validity to potential customers and future investors.
The Series A funding was provided by Indicator Capital, a Brazilian venture capital firm that manages a $45 million fund raised last year primarily from Qualcomm and the Brazilian Development Bank.
Indicator said he was drawn to Beegol because of the prominence of trends such as working from home, video games and new online social environments.
Beegol’s investment is one of many expected this year in the Latin America region, which continues to be the top hotspot for global venture capital funding. Brazil dominates Unicorn’s list of startups valued at over $1 billion, but other countries like Colombia and Chile are catching up.