RESEARCH TRIANGLE PARK – A fiber internet based services provider in northeastern North Carolina has raised nearly $2.5 million from one investor as it continues to expand operations.
River Street Networks is part of Wilkes Communications. It’s based in Wilkesboro.
The fund raise of $2,456,176 was disclosed in an SEC filing.
The company raised the entire amount of capital it was seeking, according to the filing.
The news comes as more communications providers across North Carolina are building out high-speed internet connectivity in rural areas.
Eric Cramer, president and chief executive of Wilkes Communications and River Street Networks, has said his company is creating a statewide co-op by overlaying fiber connections on old phone systems in pockets across the state and then expanding.