Bandwidth.com, a privately held provider of various high-speed communications services across the U.S., is gearing up for further growth with $22 million in new financing.
Carmichael Partners, a new investment firm led by former FCC Chairman Kevin Martin, made the investment. Martin is a graduate of UNC-Chapel Hill. (Read more about Martin’s new firm here.)
Carmichael has opened offices in Charlotte and Washington, D.C. Martin and his partner Brian Bailey are both UNC-CH graduates.
Bandwidth.com, which could be headed for a stock offering this year, recently acquired Dash Carrier Services, a provider of e-911 services. The company says the new funding will be used for further growth efforts.
“We’re extremely pleased to welcome Carmichael Partners to the Bandwidth.com team,” said David Morken, chief executive officer of Bandwidth.com, in a statement. “Carmichael is an ideal investment partner for us due to its industry expertise and its ability to help us capitalize on future growth and strategic opportunities. This investment is great news for small and medium businesses and leading Voice 2.0 application providers who trust us to innovate for them.”
Bandwidth.com expects to top $100 million in revenue this year. It recently signed a network traffic deal with Verizon.
According to Bandwidth.com, it is now the sixth largest provider of phone number-based services in the U.S.
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