Arlington here we come! Investing 20M into connecting the city.
Nov 1, 2023
NOVOS FiBER Announces Arlington as First Active Market
NOVOS FiBER, a fiber-to-the-home (FTTH) and internet service provider (ISP) has recently announced its Dallas-Fort Worth launch in Arlington, Texas. Backed by a sizable amount of funding from InLight Capital, NOVOS FiBER is gearing up to bring high-speed internet to families and small businesses across Texas and beyond.
NOVOS FiBER, headquartered in Dallas, was founded in 2022 with the objective of addressing the digital divide that remains across many parts of the US. Founder and CEO, Andrew Snead, commented on the announcement saying “despite the growing amount of private and public funding earmarked for infrastructure investment, a significant proportion of US households and small businesses remain underserved in terms of high-speed fiber internet. We aim to help change that. We have great support from our investors and an exciting plan which we’re executing against.”
The company sees an opportunity to not only bring affordable high-speed fiber internet to such communities but to do so with a refreshingly different customer experience. Snead added, “we want to simplify the experience and inject a little fun into the way we do business. Internet has become somewhat of a grudge purchase, and we want our customers to enjoy the interactions and services they have with us.”
NOVOS FiBER’s Plans for Arlington’s Fiber Network Installation
NOVOS FiBER and InLight Capital have a sizable amount of capital to deploy and are planning to increase that further over the coming months as the NOVOS team extends its retail ISP presence in addition to building out wholesale and open-access services.
Work is underway in DFW with the company announcing a significant build project in the city of Arlington where they’ve earmarked more than $20M for FTTH deployment in the coming weeks and months whilst also working with multiple cities across the DFW area. Snead remarked on the landmark project, “we’re delighted to be working with the city of Arlington to bring high-speed fiber internet to residents and small businesses. Our team has been building in the city for a few months and we’re greatly encouraged by the progress we’re making.”
Sutton Fannon, Head of Private Investments at InLight Capital, commented on the broader US plans saying “we believe there is a significant unmet need across many US communities. Economic growth and broader societal wellbeing are positively correlated with high-speed internet, and we plan to play a role in fulfilling the need by deploying fiber infrastructure through our investment in NOVOS. We’re very excited about our plans.”
About InLight Capital
InLight Capital, LLC (“InLight”) is a private investment firm based in Sugar Land, Texas. InLight’s permanent capital base allows us to pursue an objective of long duration compounded capital growth. InLight maintains flexibility and discretion of the amount, duration and objectives of its invested capital, allowing for efficient decision making and strategic alignment with all stakeholders. InLight invests across virtually all asset classes ranging from public securities and real estate to direct investments in operating companies.
Media Contact - Wes Briscoe Wes.Briscoe@NovosFiber.com