DigitalBridge lands $16.5M for rural wireless growth
Wireless broadband provider DigitalBridge Communications snagged $16.5 million in a third round of funding, including $8.5 million in debt. The money will be used to scale the business, which focuses on expanding wireless broadband services to rural areas.
The three-year-old company has established service in 15 markets in Idaho, Indiana, Montana, South Dakota, Wyoming and Virginia. It also launched a commercial WiMAX network in Jackson, Wyo. in June, and introduced voice over Internet protocol (VoIP) services — similar to Skype — in its existing territories.
BIA Digital Partners and Spring Capital provided the debt funding. The rest came from Paladin Capital Group, RedShift Ventures, CNF Investments and Novak Biddle Venture Partners. Competitors range from Sprint, which is building a nationwide WiMax network, to rural broadband provider Stelera Wireless.
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About the Author, Camille Ricketts
Camille is the lead writer for GreenBeat. She came to VentureBeat from Google where she worked on its traditional platforms team, particularly in TV. Before that, she was a reporter for the Wall Street Journal in New York and London. Follow her on Twitter at @camillericketts, and follow VentureBeat on Twitter at @venturebeat.
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