Skywire Networks Lands USD 23m Financing

Skywire Networks, one of the largest Fixed Wireless Broadband Providers in New York City, has announced that it has successfully secured USD 23 million in financing from Metropolitan Partners Group, a private investment firm based in New York City, the company said.

The financing will be used to significantly scale the company´s New York City “lit” building footprint and to scale its sales, marketing and operating organizations.

In New York City, only 15 percent of the 71,000 commercial buildings are equipped with fiber and the high-speed connectivity that businesses need to run today´s modern applications. In Brooklyn for example, the borough that houses the fourth largest population in the US, under 5% of the commercial buildings are equipped with fiber. If a building is wired with outdated copper and/or cable services, internet speeds will many times be slow, unreliable and hurt employees´ productivity.

Skywire Networks is one of the largest Fixed-Wireless Broadband providers in New York City with thousands of customers, more than 400 lit buildings, more than 30 hubs, and a near-net footprint of 25,000 commercial buildings.

Metropolitan Partners Group is a private investment firm based in New York City focused on providing debt capital to growing private companies in the United States. Metropolitan works to understand its borrower´s business needs and growth plans and works to tailor a customized capital solution through the skillful application of operational expertise, asset valuation and deal structuring. The Metropolitan team is led by Paul Lisiak, who has 20+ years of experience investing in private US companies. Since 2008, Metropolitan has invested over USD 400 million in over 45 companies.