Brightspeed Raises Another $575 Million in Financing

Brightspeed, the third largest fiber optic broadband builder in the United States, announced today the completion of $575 million in financing to accelerate the expansion of its fiber optic network. This new funding is in addition to the $3.7 billion already raised in 2024 and will be used to build high-speed fiber optic networks for over 5 million households and businesses across 20 states.

As one of the fastest-growing fiber broadband builders in the United States, Brightspeed has already laid fiber optic cables in over 2 million locations and plans to add coverage to approximately 1 million households by 2025, maintaining its industry-leading construction speed.

significance of the funding

Michel Combes, Executive Chairman and CEO of Brightspeed, said, “The new funding allows us to continue our aggressive fiber optic construction strategy and provide high-speed connectivity to communities that have long lacked high-quality broadband options. We have made significant progress, and this financing confirms the recognition of our strategy by the credit market and our strong execution capabilities.”

This financing has received strong support from investors. This indicates market’s confidence in Brightspeed’s development model: its coverage area has low penetration rate, the construction team is focused on efficiency, and there is broad space for creating long-term value through fiber optic expansion.

Combes added, “Our goal is clear – to quickly and efficiently build fiber optic networks, providing future oriented fiber optic connections to as many households and businesses as possible within our coverage area. We will deliver standardized results and continue to maintain strong construction momentum.”

Brightspeed uses advanced XGS-PON technology to build fiber optic networks, providing symmetric multi gigabit network speeds. At present, its services have covered over 530 communities and the scope is still expanding. The company is currently one of the most active fiber optic operators in the United States.

In addition to private financing, Brightspeed has so far received over $295 million in public broadband subsidies for network construction in underserved areas. The company will continue to actively seek more subsidy funds to expand fiber optic coverage and enhance its impact on underdeveloped areas.

Brightspeed is headquartered in Charlotte, North Carolina, with assets and operations in 20 states. It provides broadband and telecommunications services through a network platform that covers 7.3 million households and businesses. The company’s 4000 employees committe to building a more interconnected future, deploying advanced fiber optic networks, and providing a simple customer experience.