GiGstreem pulls in $10M in Series B funding round led by RET Ventures

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GiGstreem, which was founded in 2016, raised $10 million in a Series B round of funding. (Pixabay)

Tyson, Virginia-based GiGstreem raised $10 million in a Series B funding round that was led by RET Ventures, with participation from LNC Partners.

GiGstreem provides residential and commercial internet service through a mesh of fiber-optics and fixed wireless technologies across Baltimore, New York, South Carolina, Orlando and Virginia. It offers broadband speeds from 100 Mbps up to 10 Gbps.

GiGstreem offers temporary connectivity, including Wi-Fi, for events and venues. It also provides direct peering to streaming and cloud content providers. 

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“High-speed, reliable internet service is a non-negotiable in the multifamily industry,” said RET Ventures managing director John Helm, in a statement. “Not only are we seeing the ‘hotelification’ of the industry, where residents expect many of the amenities offered at a high-end hotel, the increasingly prevalent remote workforce and the move away from traditional cable television means that constant connectivity is of the utmost priority."

RELATED: Wireline broadband growth eases as residential connections approach 99 million homes—report

GiGstreem has brand relationships with Sony, Buzzfeed, Google, Microsoft, Samsung, Yahoo and Nike, among others.

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