Brightspeed Locks $1.65 Billion to Push Fiber Expansion in 20 States

Brightspeed has secured $1.65 billion in new capital to keep its aggressive fiber buildout moving, marking its third major financing round in less than a year.

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The fresh funding follows a $575 million bond sale in June and $3.7 billion raised in August 2024, underscoring investor appetite for the company’s growth plan.

The Charlotte-based broadband provider, already the nation’s third-largest fiber builder, aims to bring its network to more than five million homes and businesses across 20 states.

So far, Brightspeed has passed 2.3 million premises with fiber and is scaling at a rate of one million new locations annually while keeping costs among the lowest in the industry.

“This infusion of new capital means we can continue to expand our fiber network to more homes, businesses and communities who need it,” said Michel Combes, executive chairman and CEO of Brightspeed, highlighting the company’s execution and strong backing from the market.

Brightspeed’s footprint includes 7.3 million homes and businesses that remain largely underpenetrated, giving the company room to capture new subscribers.

The build relies on XGS-PON technology capable of delivering symmetrical multi-gig speeds.

Just last month, HighSpeedInternet.com ranked Brightspeed as the fastest internet service in its 2025 Annual Service Provider Review, a recognition that aligns with its push into more than 530 communities.

With close to 4,000 employees and one of the strongest capital positions in the sector, Brightspeed continues to cement its place as a major competitor in the U.S. fiber race.