TYSONS, Va.--(BUSINESS WIRE)--GiGstreem, an internet service provider specializing in residential and commercial internet, today announced it has raised $10M in Series B funding led by RET Ventures, an early stage venture fund representing over 1 million multifamily units in North America, with participation from LNC Partners. GiGstreem will use the investment to fuel research and development efforts and to fund new market expansion.
GiGstreem is revolutionizing the way businesses and multifamily buildings provide internet service through its fiber/microwave hybrid model, which maintains gigabit speeds competitive with pure fiber offerings, all while reducing costs. By offering GiGstreem’s high-speed, reliable internet and superior customer service to residents, property managers are able to provide a luxury amenity while increasing NOI to the property.
“High-speed, reliable internet service is a non-negotiable in the multifamily industry,” said John Helm, managing director, RET Ventures. “Not only are we seeing the ‘hotelification’ of the industry where residents expect many of the amenities offered at a high-end hotel, the increasingly prevalent remote workforce and the move away from traditional cable television means that constant connectivity is of the utmost priority. We believe GiGstreem is the best provider to deliver internet services that meet and exceed the demands of today’s multifamily owners and their residents.”
“GiGstreem is uniquely positioned to deliver the market’s best high-speed internet experience, especially within the multifamily industry,” said Joel McIntyre, CEO, GiGstreem. “This investment from RET Ventures validates our core innovation model and enables us to greatly accelerate our development in key markets. We are thrilled to have the industry-leading expertise of RET Ventures as we begin the next phase of our company’s growth.”
GiGstreem is revolutionizing the high-speed internet industry by delivering fiber and micro/fiber hybrid internet service options to homes and businesses at an affordable price. GiGstreem’s state-of-the-art national network serves businesses and residences in hundreds of communities in Maryland, Virginia, DC, New York and Florida, serving up bandwidths of 100 Mbps to 10 Gigabit and beyond. GiGstreem is trusted by several well-known brands including Buzzfeed, Microsoft, Nike, Samsung, Yahoo and more. For more information, please visit https://gigstreem.com/
About RET Ventures
RET Ventures is the first industry-backed early stage venture fund focused on helping build cutting-edge real estate technology companies for the multifamily industry. The Firm connects the smartest rent tech solutions with the largest network of multifamily and single-family rental units in North America. RET Ventures works with high quality entrepreneurs to rapidly scale their businesses by leveraging the knowledge and expertise of its team and limited partners, who own over 1 million units. In turn, these owners receive early access and insight into the most effective technology solutions. For more information, please visit www.ret.vc.