Texas, USA-based next-generation Internet Service Provider (ISP) specializing in bridging the digital divide and providing increasingly critical broadband connections to rural communities, Element8 raised USD 200 million in strategic investment. The company announced the investment on March 16, 2023. An investment firm focused on digital infrastructure, Digital Alpha led the financing for the company.
In addition, the company announced the acquisition of Oklahoma City-based high-speed internet provider AtLink Services. However, it did not disclose the amount of the transaction.
Purpose of investment for Element8
Element8 and Digital Alpha seek to execute a growth strategy. Its strategy intends to focus on organic growth, strategic acquisitions, as well as greenfield network infrastructure expansion. Meanwhile, the company intends to scale its investment beyond USD 200 million in the coming years.
Element8’s initial platform acquisition of AtLink Services marks a major milestone on the company’s path to national expansion.
What the AtLink Services CEO has to say
AtLink Services CEO Sam Curtis said, “The time is now for seasoned operators to meet the rural broadband needs of unserved and underserved Americans. I am excited to work with such a visionary team at E8, where together, we will deploy world-class digital infrastructure resources from Cisco, Digital Alpha, and Tarana to seize this unique moment in time in the industry.”
What the company’s officials have to say
In addition, Element8 President and CEO Kevin Grace said, “We are absolutely thrilled to have the support and confidence of the Digital Alpha team behind us. In addition to their financial backing, their strategic alliances with industry partners such as Cisco present an opportunity for us to build world-class network infrastructure and expand our relationships with many strategic vendors. All this gives E8 a critical edge in providing the fastest and most reliable internet available to serve the underserved. I attribute our progress and success to our incredible team.”
What the investor has to say
Rick Shrotri, Founder and Managing Partner of Digital Alpha Advisors, said, “The E8 team has demonstrated their expertise and ability to deliver. Element 8 offers an industry-leading approach to delivering connectivity infrastructure to subscribers in rural markets across America. With Digital Alpha’s revenue share financing solution, a tested technology solution from Tarana, and a strategic partnership with Cisco, Element 8 has an opportunity to build a national, next-generation network.”
About the company
Kevin Grace launched Element8 in 2020. E8 seeks to provide high-speed, mission-critical broadband to places that lack adequate access to broadband connectivity.
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