A Fort Worth investment firm has invested in GiGstreem, a premier in-building gigabit internet service provider.
GiGstream announced April 7 it has secured a $50-million investment from Crestline Investors Inc. to support the company’s continued growth strategy in deploying its Ubiquitous WiFi platform to multifamily properties across major cities throughout the U.S.
“We are thrilled about the market opportunity that GiGstreem represents and believe the Ubiquitous WiFi platform currently being deployed is a great value proposition that consumers are increasingly demanding in a post-COVID environment,” said Will Palmer, Crestline Investors partner. “We believe that Joel McIntyre (CEO) and Andrew Kusminsky (COO) are the right guys for the job.”
Launched in 2017 and headquartered in New York, GiGstreem is a premier gigabit internet service provider that currently operates in multiple U.S. East and West Coast markets providing services to commercial business, residential communities and apartment buildings. With its state-of-the-art technology, GiGstreem offers entire buildings and communities continuous property-wide WiFi coverage on their own private network, which in turn facilitates the next generation of wireless and technology-enabled services including IoT, smart devices, in-building mobility (including CBRS and Connectivity-as-a-Service) and building management systems.
Amid the pandemic, a growing number of consumers have recognized the limitations of the large providers’ networks, and the resulting outages and complaints have cost countless lost hours in productivity and economic losses. Property owners have quickly come to value purpose-built networks like GiGstreem that are specifically designed to accommodate multiple streaming devices without any lag or buffer. As they roll out technologies designed to improve property operations, developers have prioritized providers who have mastered large-scale connectivity, which has made GiGstreem an increasingly attractive option.
With GiGstreem’s plans to continue its growth strategy across major U.S. cities, the investment from Crestline provides GiGstreem with capital that will enable the firm to deploy the necessary infrastructure in order to satisfy its backlog of demand.