Funding
The company has constructed more than 1,000 miles of fiber in Southeast U.S.
Photo of LiveOak Fiber Co-Founder Steve Smith
July 1, 2024 – Internet Service Provider LiveOak Fiber announced on Monday a $250 million investment from J.P. Morgan to expand its fiber broadband network to underserved areas in the Southeast United States.
Co-Founder of LiveOak Fiber Steve Smith emphasized the company’s commitment to continued expansion and investment in its market to “provide best-in-class service” for its clients and communities. “We are intensifying our focus on these markets and the transformative infrastructure we deliver,” he said.
“We are proud of our progress to build much needed digital infrastructure which supports communities across the Southeast to meet their connectivity needs,” said LiveOak CEO Jody Craft. “This financing will be used to continue our expansion in Florida and Georgia as well as the surrounding region. We see this as an important step and shows our team’s continued commitment to growth.”
J.P. Morgan is a global financial services firm specializing in investment banking, commercial banking, asset management, and wealth management.
Since its founding in 2022, LiveOak Fiber has invested over $200 million in broadband expansion, constructing more than 1,000 miles of fiber in the Southeastern U.S. The company’s investment enabled access to educational resources, telehealth services, and economic opportunities in these areas.
LiveOak’s fiber networks in Georgia and Florida reached 50 percent completion in May.