Kirkland-based broadband web and TV provider Ziply Fiber closed a $350 million funding round, the company announced Friday.
CEO Harold Zeitz said in a news release the funds will support its "ongoing fiber expansion in the Northwest."
"It will ensure that we have the resources on hand to keep up the strong pace of construction we’ve set for ourselves as we head into the new year, and to continue to deliver on our goal to providing the best connected experience possible for people in the Northwest," Zeitz said.
The company's operations cover Washington, Oregon, Idaho and Montana. In the past 18 months, Ziply has begun fiber construction projects in 52 markets, including small towns, in an effort to narrow the digital divide.
"As part of the 2020 acquisition, Ziply inherited a copper network that had been, well, neglected," Zeitz said. "Ziply has spent considerable time and resources working to improve our core and aggregation networks."
Ziply was created last year out of a $1.35 billion acquisition of Frontier Communications by Kirkland-based WaveDivision Capital and global private investment firm Searchlight Capital Partners. At the time, the deal would have provided about 500,000 internet subscribers in the Pacific Northwest with services.
Ziply last year said it had plans to invest $500 million in upgrading its internet, phone and TV services.
