Ziply Fiber on Sept. 8 announced that the company has raised $450 million in new funding to support its ongoing fiber network expansion in the Pacific Northwest.
In its first two years of operation, the company notes it upgraded its copper network to fiber in more than 80 markets across its four-state footprint, with "many more" markets in the pipeline.
According to a press release, all current Ziply Fiber investors participated in this new funding round, including: WaveDivision Capital, LLC (WDC); Searchlight Capital Partners, L.P.; Public Sector Pension Investment Board (PSP Investments); British Columbia Investment Management Corporation (BCI); and Canada Pension Plan Investment Board (CPP Investments).
In addition to continuing to upgrade its current network footprint, Ziply Fiber said the newly raised funds will enable the company "to expand its edge-out strategy and deliver on its mission of elevating people’s connected lives, every day."
New executive appointments
Helping to drive the company's new phase of growth are two newly announced executive appointments.
Chris Denzin, who has led the provider's Residential and Small Business teams, has been named Ziply Fiber’s new chief operating officer. Denzin, who built a career as a leader in the telecommunications industry in Arizona, Colorado, Oregon and Washington before joining Ziply Fiber, will now oversee the company's residential and commercial sales, customer care, field operations and product development operations.
The company has also promoted Rob Griffith to the new position of Chief, Fiber Design and Construction to oversee all fiber expansion activities. With Griffith’s extensive background in engineering, construction and operations as a construction company leader and telecommunications executive leading fiber enablement across the western U.S., he brings tremendous experience to this critical role.
QUOTES
“Since founding the company, we’ve been committed to bringing ultra-fast, reliable fiber internet to our local area neighbors and businesses and helping to close the digital divide in many rural and suburban communities across the Northwest. The combination of our operational expertise and the capital raised today, positions Ziply Fiber to serve more markets than ever before.” -- Harold Zeitz, CEO of Ziply Fiber
“We originally partnered with the Ziply Fiber team to provide reliable, quality fiber internet access in the Northwest. Harold and the team at Ziply have exceeded our expectations, and they will continue to deliver high-performance, fiber-based connectivity to more markets at a time when the need for best-in-class symmetrical speeds has never been higher." -- Eric Zinterhofer, Founding Partner of Searchlight Capital Partners, L.P.