LiveOak Fiber (LiveOak), an American regional broadband service provider, has announced that it has secured additional funding through a new co-investment partnership. The funding comes from InfraRed Capital Partners and MEAG, the asset manager for Munich Reinsurance Company (Munich Re) and its subsidiaries. “This new investment will further support LiveOak’s mission to deliver high-speed broadband to underserved markets in the southeastern United States,” LiveOak said on Tuesday.
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Expanding Broadband Across the Southeast
Since its founding in June 2022, the ISP (Internet Service Provider) has expanded its efforts to bridge the digital divide across Florida and Georgia. The company has already completed more than 50 percent of its planned network builds in Northwest Florida, the official release said.
“This additional funding reaffirms our commitment to the communities we serve,” said Jody Craft, CEO of LiveOak Fiber. “We’re not just building infrastructure; we’re investing in the future of these communities across the region to enable economic growth and enhance the quality of life.”
Also Read: LiveOak Fiber to Invest USD 40 Million to Extend Fiber Internet to Walton County, Florida
Recent Investments and Network Expansion
In total, LiveOak has deployed more than USD 200 million in investments and constructed over 1,000 miles of fiber. The new investment complements LiveOak’s July announcement of USD 250 million in financing secured through JP Morgan to accelerate its expansion and reach more homes and businesses.
Also Read: LiveOak Fiber Secures USD 250 Million to Expand Network in the Southeast US
LiveOak Fiber currently serves residential and business customers across five counties in Florida and Georgia, targeting areas that have historically seen limited investment in fiber infrastructure.