GigaMonster closes funding round, merges with Fibersphere Communications
Fiber-based broadband services provider GigaMonster says it recently completed a $45 million funding round with Post Road Group and a merger with Fibersphere Communications, a fiber-to-the-home (FTTH) services provider based in Portland, OR.
Founded in 2015 and focused on providing what it calls “Scary Fast” gigabit internet services provision, GigaMonster now operates in more than 25 markets nationwide. According to Chairman and CEO Bill Dodd, the time was right to link with MVP Capital for assistance in finding a strategic investor to accelerate further growth.
“The $45 million in new capital provides us with the fuel to expand even faster through both future acquisitions and organic growth. It also allows us to further enhance our standard-setting product offerings as the industry undergoes rapid change,” explained Dodd. “The combination of GigaMonster and Fibersphere significantly increases our West Coast presence and was in perfect alignment with our vision to be the absolute best multifamily internet solution in the market.”
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