Archtop Fiber Secures Significant Investment to Boost Northeast Expansion Efforts

Archtop Fiber Expands with $200 Million Investment

Archtop Fiber, a leading provider of fiber internet and phone services for homes and businesses, is making headlines with its latest financial maneuver. The company recently secured nearly $200 million in a new credit facility organized by Monroe Capital, a prominent investment firm based in Chicago. This capital boost is aimed at accelerating Archtop's market expansion initiatives across the Northeast, highlighting the growing demand for reliable broadband services in this region.

A Vote of Confidence

Archtop's new funding represents more than just capital; it signifies strong support from existing investors, particularly Post Road Group, which specializes in investing in digital infrastructure. With this new backing, Archtop is poised to enhance its services and expand its reach to more communities.

Jeff DeMond, the Chairman and CEO of Archtop Fiber, expressed his enthusiasm about the investment: "We are thrilled to secure this substantial source of funding, which will accelerate our ability to scale and reach new markets. This partnership with Monroe represents a strong vote of confidence in our business strategy and growth potential."

In addition to enabling immediate expansion projects, the funding opens the door for future investments as Archtop continues to improve its fiber network infrastructure. Andrew Runk, Managing Director at Post Road Group, added that Archtop Fiber is creating a lasting impact in the broadband sector, especially in areas that have long been overlooked.

Monroe Capital's commitment to supporting Archtop underscores the company's role as a catalyst for digital transformation in the East Coast region. Kyle Asher, Managing Director and Co-Head of Alternative Credit Solutions at Monroe, stated, "The Archtop platform is a major catalyst for digital transformation on the East Coast."

Expanding Connectivity and Closing the Digital Divide

In addition to private financing, Archtop Fiber is also actively seeking public funding to assist in closing the digital divide. Recently, it entered into a Memorandum of Understanding with Sullivan County, New York, to extend its high-speed fiber services throughout the area. Announced in November, a significant grant of $30 million from the New York state government through the ConnectALL Municipal Infrastructure Grant Program will facilitate the expansion of broadband infrastructure. Furthermore, this March, Massachusetts state officials allocated $10.4 million to improve internet access in public and affordable housing, which will enhance connectivity for underserved communities in the state.

Archtop Fiber's services are currently operational in six communities, with plans to launch in several others shortly. The company has been actively engaging with local leaders and residents to position itself as a key partner for public good. Since the beginning of 2024, Archtop has successfully launched services in cities including Kingston, Saugerties, Rhinebeck, and Hudson in New York, as well as in Warwick, Woodstock, and Vernon, New Jersey. Further expansion will cover additional areas like Catskill, Red Hook, Tivoli in New York, and the Pittsfield/Berkshires region in Massachusetts.

Looking ahead, Archtop is also preparing to introduce residential internet speeds of up to 8Gbps in the new markets it is entering, a substantial upgrade that promises to transform user experiences in these communities.

As it continues to grow, Archtop remains committed to providing fast, reliable, and environmentally friendly fiber internet services, not only improving connectivity but also contributing to the broader socioeconomic development of the areas it serves. To learn more about Archtop Fiber and its services, interested individuals can visit www.archtopfiber.com.

Conclusion

With its substantial capital infusion and ongoing commitment to community engagement, Archtop Fiber is well-positioned to make a significant impact in the broadband landscape of the Northeast. The company's focus on serving underserved communities reflects a growing recognition of the importance of accessible and high-quality internet services in today’s digital world. As Archtop expands its footprint, it aims to lead the charge in empowering both residents and businesses with the tools necessary for growth in the digital age.