New funding will help accelerate Brightspeed’s effort to reach 5 million homes with fiber, the Charlotte-based internet service provider (ISP) has announced.
The $575 million in new funding, announced Thursday, builds on the $3.7 billion raised by Brightspeed in 2024, according to the ISP.
Brightspeed, which operates a footprint that spans across 20 states, says they’ve passed approximately 1 million homes with fiber in 2025.
“The additional capital reflects robust support from investors and affirms their confidence in the Brightspeed thesis: a large, underpenetrated footprint, a focused and proven build engine, and a long runway for value creation through fiber expansion,” the ISP’s release explained.
Michel Combes, Brightspeed’s executive chairman and CEO, said the new capital will allow Brightspeed to maintain their aggressive build strategy.
In comments included with Brightspeed’s release, he said the company will continue “bringing high-speed connectivity to communities that have historically lacked quality broadband options.”
“We’ve made tremendous progress, and this new funding underscores the credit market’s belief in our strategy and reaffirms the strength of our execution,” Combes said.
Beyond private funding, nearly $300 million in public broadband grants and subsidies have been secured by Brightspeed to date, the ISP stated.
The company, which leverages XGS-PON technology to deliver multi-gig speeds, remains focused on building fiber “quickly and efficiently, bringing future-proof fiber connectivity to as many homes and businesses in our footprint as possible,” Combes stated.
“We are delivering results at scale and remain committed to maintain our strong build momentum,” he said.
Currently, Brightspeed services are across 530 communities, the ISP’s release stated, with a network platform capable of serving over 7 million homes and businesses. BBCMag