Ziply Fiber Raises $450 Million for Continued Network Expansion in the Northwest
Ziply® Fiber (“Ziply”) today announced $450 million in new funding to support its ongoing fiber network expansion in the Northwest. In its first two years of operation, the company upgraded its copper network to fiber in more than 80 markets across its four-state footprint with many more in the pipeline. In addition to continuing to upgrade its current footprint, these new funds will enable the company to expand its edge-out strategy and deliver on its mission of elevating people’s connected lives, every day.
Helping drive this new phase of growth for the company are two new executive appointments. Chris Denzin, who has led the Residential and Small Business teams, has been named Ziply Fiber’s new Chief Operating Officer. He will oversee residential and commercial sales, customer care, field operations and product development. Chris has built a career as a leader in the telecommunications industry in Arizona, Colorado, Oregon and Washington before joining Ziply Fiber.
The company also promoted Rob Griffith to the new position of Chief, Fiber Design and Construction to oversee all fiber expansion. With Rob’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.
“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,” said Harold Zeitz, CEO of Ziply Fiber. “The combination of our operational expertise and the capital raised today, positions Ziply Fiber to serve more markets than ever before.”
“We originally partnered with the Ziply Fiber team to provide reliable, quality fiber internet access in the Northwest,” said Eric Zinterhofer, Founding Partner of Searchlight Capital Partners, L.P. “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”.
All current Ziply Fiber investors participated in this new funding round including WaveDivision Capital, LLC (WDC), Searchlight Capital Partners, L.P. (“Searchlight”), Public Sector Pension Investment Board (“PSP Investments”), British Columbia Investment Management Corporation (“BCI”) and Canada Pension Plan Investment Board (“CPP Investments”).