Wave, a gigabit fiber and broadband services company in the West Coast of the US, serving customers in communities in Washington, Oregon, and California, announced that it has raised $125 million to continue the accelerated growth of its West Coast fiber network, bolstering its commercial services division and its Wave G residential Gigabit service.
Wave plans to apply the funding to the continued build-out of its fast-growing fiber network in the areas it is serving now, along with future acquisitions.
Wave which has more than 1,300 employees, claims that it currently has more than 1,000 fiber construction projects underway to serve business and residential customers on the West Coast. Wave's commercial services division is the company's fastest-growing area, with year-over-year revenue increases of more than 25%. It serves customers ranging from small businesses to larger enterprises, government agencies, medical and education campuses, and telecom providers.
Separate from this financing, Wave has acquired two fiber-optic broadband companies: CoastCom, a Newport, OR-based company providing high-speed internet, data, and voice services for businesses on the Oregon Coast and in Central Oregon; and Vancouver, WA-based SawNet, a broadband services provider for businesses, schools, and consumers in the Columbia Gorge region of northern Oregon and southern Washington.