GigabitNow receives investment from Benaroya Companies for U.S. FTTH development
SEATTLE, WASHINGTON – GigabitNow, a division of IsoFusion, has received an equity investment in IsoFusion from Benaroya Companies. The venture capital firm will also provide $14 million in project financing capital, which will allow GigabitNow to expand its operations.
GigabitNow's new in-house financing capabilities will allow it to expedite its network construction financing for private communities and municipalities in the U.S. including the initial costs of network development.
GigabitNow is now able to assist in the financing the community's costs for the development and construction of fibre to the home (FTTH) networks. The service provider says that it now offers a turnkey solution to those who want to bring their community into the 21st-century Internet connected world without dedicating the significant front-end capital costs.
‘Over the last few years, we have seen many underserved communities, essentially abandoned by the larger Internet Service Providers (ISPs), causing them to be forced to live without the advantages of high-speed fibre broadband.’ said Stephen Milton, CEO of GigabitNow. ‘This investment and our continued expansion in the western United States allows us to continue our efforts to bring fast, reliable, fibre Internet connectivity to private communities and municipalities who can benefit from it most.’
‘We are thrilled to accelerate GigabitNow's expansion and financing capabilities to provide underserved residential communities and municipalities with fast, affordable Internet service backed by world-class customer support,’ said Larry Benaroya, Benaroya Companies Principal. ‘As a recognised leader in fibre to the home networks in the U.S., GigabitNow is uniquely positioned to deliver reliable, high-performance solutions to communities throughout the U.S.’