Wave Broadband Raises $130M To Expand Its Gigabit Broadband Network On The West Coast


Wave Broadband — a broadband company that has built a gigabit fiber network with services from Washington down to California completely independent of the big carriers — is today announcing that it has raised $130 million. It plans to use the extra funds to expand that network across more cities in that footprint, and to launch new services for residential and business customers.

The Kirkland, WA-based company is not disclosing its valuation but says that it is profitable and that its assets alone are worth some $2.5 billion. (Those assets include 5,000 route fiber miles, with 1,500 more to come this year.)

Wave says that this latest financing comes in the form of a bond sale led by Deutsche Bank and supported also by Wells Fargo, Sun Trust, and RBC Daniels.

This latest funding round is only the second time that Wave has taken significant funding since opening for business in 2002. The first was a $1.1…

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