LiveOak Fiber (LiveOak), a regional broadband service provider founded in the US, has announced securing USD 250 million in financing underwritten by JP Morgan. This funding will accelerate the expansion of LiveOak's fiber broadband network to underserved communities in the Southeast United States, the ISP said on Monday.
Also Read: LiveOak Fiber Completes 50 Percent of Georgia Broadband Rollout
Growth and Expansion Milestones
LiveOak stated that since its inception in June 2022, it has grown into a regional network operator serving business and residential customers in Bay, Okaloosa, and Walton Counties, Florida, as well as Camden, Chatham, and Glynn Counties, Georgia. By May 2024, the company had completed 50 percent of its network builds in Georgia and Florida, investing over USD 200 million and deploying more than 1,000 miles of fiber.
"We are proud of our progress in building much-needed digital infrastructure to support communities across the Southeast in meeting their connectivity needs," said LiveOak. "This financing will be used to continue our expansion in Florida and Georgia, as well as the surrounding region. We see this as an important step that shows our team’s continued commitment to growth."
Also Read: LiveOak Fiber to Invest USD 40 Million to Extend Fiber Internet to Walton County, Florida
JP Morgan's financing will enable LiveOak to continue its progress and expand further into new and existing communities, the official release said.
