{"id":8720,"date":"2021-02-18T19:20:06","date_gmt":"2021-02-18T19:20:06","guid":{"rendered":"https:\/\/www.utopiafiber.com\/?p=8720"},"modified":"2024-08-20T22:43:28","modified_gmt":"2024-08-20T22:43:28","slug":"utopia-fiber-announces-completion-of-52-5-million-funding-round","status":"publish","type":"post","link":"https:\/\/www.utopiafiber.dev\/es\/utopia-fiber-announces-completion-of-52-5-million-funding-round\/","title":{"rendered":"UTOPIA Fiber Announces Completion of $52.5 Million Funding Round"},"content":{"rendered":"

The Capital Investment Will Be Used to Complete UTOPIA Fiber\u2019s Original 11 Cities, Grow and Build the Network, and Add Customers<\/em><\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Murray, UTAH (February 18, 2021) \u2013 UIA\n(Utah Infrastructure Agency) has just completed its latest round of funding\nthat will infuse the UTOPIA\/UIA network with $52.5 million for the expansion of\nits network. Utah Infrastructure Agency (UIA) is a sister agency to UTOPIA\nFiber. Although legally separate entities, UTOPIA and UIA functionally operate\nas one integrated system and both are marketed as UTOPIA Fiber. This\nis the third round of financing UIA has secured recently, attracting $113\nmillion in the last 14 months.<\/p>\n\n\n\n

UIA secured the latest round of funding in\npartnership with Lewis Young Robertson & Burningham, Inc. (Financial\nAdvisor), KeyBanc Capital Markets, Inc. (Senior Managing Underwriter), and\nGilmore & Bell (Bond and Disclosure Counsel). Since 2011, the majority of\nUTOPIA Fiber\u2019s growth has come from its synergistic relationship with UIA,\ndesigning, financing, building, and operating state-of-the-art ultra-high-speed\nfiber-broadband networks, firmly securing its position as the largest\npublicly-owned Open Access fiber network in the United States. <\/p>\n\n\n\n

\u201cWhat we\u2019re seeing with this latest round of\nfunding is stronger-than-ever demand for high-speed fiber networks,\u201d said Roger\nTimmerman, UTOPIA Fiber\u2019s executive director. \u201cThe $52.5 million provides the\ncapital to build out the remaining areas of our original 11 cities and to add\ncustomers throughout our coverage area. We continue to have the best partners\nin the business, who have worked tirelessly to get us to this point,\u201d he added.<\/p>\n\n\n\n

UTOPIA Fiber provides fiber-to-the-home services\nin 15 cities and business services in 50. They serve as operational parter for\nIdaho Falls Fiber in Idaho and are in talks with additional municipalities to\nbring the network to their communities. UTOPIA Fiber is available to 130,000\nhomes and businesses, offers the fastest internet speeds in the United States\n(10 Gbps residential and 100 Gbps commercial), and enjoys being ranked as the\nhighest-rated internet option in Utah. <\/p>\n\n\n\n

This round of new funding is the largest that\nUIA has closed on in agency history and the third in the last 14 months ($48\nmillion in November 2019 and $13 million in August 2020). UTOPIA Fiber\ncontinues to bring competitive services from 14 internet service providers\n(ISPs) at the fastest speeds and best value. <\/p>\n\n\n\n

UTOPIA Fiber\u2019s Open Access model enables\ncommunities to have access to a free and open internet without throttling, paid\nprioritization, or other provider interference. Participating cities can also\nbenefit from various Smart City applications that are enabled by the UTOPIA\nFiber network including early wildfire detection systems, free public WiFi,\nSmart water and energy management, and air pollution monitoring services. <\/p>\n\n\n\n

\u201cThe pandemic has shown us just how important\nfast, affordable, and reliable broadband service is. We believe publicly-owned\nOpen Access fiber networks are the future of American internet connectivity and\nare excited to be at the forefront of that movement,\u201d Timmerman said. <\/p>\n\n\n\n

The public is invited to visit UTOPIAfiber.com\nfor service maps, build-out timelines, and information on how to sign up for\nUTOPIA Fiber services. <\/p>\n\n\n\n

Acerca de\nUTOPIA Fiber<\/strong><\/p>\n\n\n\n

Created by a\ngroup of Utah cities, the Utah Telecommunication Open Infrastructure Agency\n(UTOPIA) is a community-owned fiber-optic network that uses the Open Access\nmodel to promote competition by giving customers the freedom to choose which\ntelecommunication services they want. With fiber availability to over 130,000\nbusinesses and residences in over 50 communities, UTOPIA Fiber is the largest\nand most-successful Open Access network in the United States, and enjoys the\nindustry\u2019s highest customer satisfaction scores. Since 2009, the agency has\nsuccessfully designed, built, and operated over $250 million worth of fiber\nprojects throughout Utah, all of which have been funded completely through\nsubscriber revenue, at no cost to taxpayers. <\/p>\n\n\n\n

###<\/p>\n\n\n\n

\n

CONTACTOS CON LOS MEDIOS DE COMUNICACI\u00d3N<\/p>\n\n\n\n

Bob\nKnight<\/strong><\/p>\n\n\n\n

Harrison Edwards Relaciones p\u00fablicas<\/p>\n\n\n\n

914-242-0010<\/p>\n\n\n\n

bknight@harrison-edwardspr.com<\/a> <\/p>\n\n\n\n

-o-<\/p>\n\n\n\n

Kim\nMcKinley<\/strong><\/p>\n\n\n\n

Director de Marketing, UTOPIA Fiber<\/p>\n\n\n\n

801-613-3837<\/p>\n\n\n\n

kmckinley@utopiafiber.com<\/a>\n<\/p>\n<\/div><\/div>","protected":false},"excerpt":{"rendered":"

UIA (Utah Infrastructure Agency) has just completed its latest round of funding that will infuse the UTOPIA\/UIA network with $52.5 million for the expansion of its network.<\/p>","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[105,106,112,357],"tags":[296,119,297,120,121,298,122,123,299,124,300,301,267,126],"class_list":["post-8720","post","type-post","status-publish","format-standard","hentry","category-broadband-efforts","category-developments-at-utopia","category-industry-news","category-utopia-fiber-news","tag-uia","tag-utah","tag-utah-broadband","tag-utah-fast-internet","tag-utah-internet","tag-utah-smart-city","tag-utopia","tag-utopia-city","tag-utopia-city-services","tag-utopia-fiber","tag-utopia-fiber-announces-completion-of-52-5-million-funding-round","tag-utopia-funding","tag-utopia-in-the-news","tag-utopiafiber"],"_links":{"self":[{"href":"https:\/\/www.utopiafiber.dev\/es\/wp-json\/wp\/v2\/posts\/8720","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.utopiafiber.dev\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.utopiafiber.dev\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.utopiafiber.dev\/es\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.utopiafiber.dev\/es\/wp-json\/wp\/v2\/comments?post=8720"}],"version-history":[{"count":1,"href":"https:\/\/www.utopiafiber.dev\/es\/wp-json\/wp\/v2\/posts\/8720\/revisions"}],"predecessor-version":[{"id":13313,"href":"https:\/\/www.utopiafiber.dev\/es\/wp-json\/wp\/v2\/posts\/8720\/revisions\/13313"}],"wp:attachment":[{"href":"https:\/\/www.utopiafiber.dev\/es\/wp-json\/wp\/v2\/media?parent=8720"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.utopiafiber.dev\/es\/wp-json\/wp\/v2\/categories?post=8720"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.utopiafiber.dev\/es\/wp-json\/wp\/v2\/tags?post=8720"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}