Wave, a gigabit fiber and broadband services company in the US, has raised an additional $130 million to further expand its gigabit Ethernet fiber network. The planned expansion includes entry to new markets, increased capacity and redundancy in existing markets, as well as infrastructure development to support additional future growth. It plans to use the raised capital to serve areas from northern California to the Canadian border through key West Coast markets in Oregon and Washington and various business services such as co-location facilities and voice solutions. The expansion will cover an additional 10,000-plus residents this year in Seattle with expansion to San Francisco and other markets in 2015 and beyond.
To support the planned service expansion, Wave will be taking on a series of network expansions, including growing its gig-E network into areas surrounding Seattle, Portland and San Francisco with the addition of more than 1,500 route miles of fiber in 2015. The operator also plans to introduce new business services such as Hosted PBX and co-location facilities to its existing IP Transport, and virtual cross-connect products.
Steve Weed, CEO, Wave
We are thrilled to accelerate our fiber expansion with this additional funding and announce the new roles for Steve Friedman and Harold Zeitz. This furthers our commitment to provide business clients with carrier-class service, and residential customers with the fastest internet speeds at a great price, all backed by exceptional local customer service. Wave is uniquely positioned to deliver these services as a local, profitable and fast-growing company with more than a decade’s history, 1,000+ employees and annual revenue in excess of $350 million.
