DigitalBridge closes on new financing, new acquisitions

ASHBURN, Va.-WiMAX provider DigitalBridge Communications Corp. announced new financing, news that coincided with the company’s acquisition of two regional providers of wireless cable and Internet services.
The company said it raised more than $11 million in its first round of venture financing, along with $6.25 million in debt from Comerica Bank. Leading investors included RedShift Ventures, CNF Investments and Novak Biddle Venture Partners. The company concurrently closed on its acquisitions of wireless service providers Teton Wireless in Idaho and Montana Wireless in Montana. According to DBC, the company plans to “enhance the service offerings in these markets by adding higher speed data services and expanding current service areas to include additional communities in the Intermountain West, Midwest and Southeast.”
DBC uses WiMAX to bring broadband to underserved communities.
“WiMAX allows us to bring broadband services to many smaller communities that were previously too costly to serve with older technologies,” said chief executive officer Kelley Dunne. “We are now able to offer the educational and economic opportunities provided by true broadband connectivity to many people who have had limited options for high speed Internet service.”