Fiber optics operations company Deep Fiber Solutions closed an $8.9M funding round this week led by Alabama-based AIM Group with Fidelis Capital and Bonaventure Capital. The Atlanta-based company will leverage the funds to expand and meet the market demand for their patented fiber optic installation solution across the country.
“We are excited to have the AIM Group, Fidelis Capital, and Bonaventure Capital as our new investment partners,” says Mark Davis, CEO & co-founder. “We actually met the AIM Group team after pitching at Venture Atlanta last November. This new capital will be use to expand our existing crews and into new markets across the U.S.”
The company has tripled revenue from just under $4 million in 2015 to over $12 million last year, according to Jim Corman, Managing Partner of AIM Group
Deep Fiber uses patented technology to facilitate fiber optic cable installation without breaking sidewalks, risking utility lines, or destroying customers’ landscaping. Without adding extra materials, they remove the foam core of the existing coax cables and replaces it with fiber optics for faster network speeds, all with lower costs. All good news for cable companies — and customers!
“We offer a compelling turnkey solution beginning with engineering and design services, span qualification, core ejection, fiber installation, fiber splicing and cutover services,” says Davis. The process injects liquid soap into one end of a hardline coax cable and the pressure compresses the foam core and breaks it from the aluminum shield on both ends. Then by using air, Deep Fiber pushes the soap out and uses the remaining shield as an aluminum conduit to blow a fiber optic cable in.
“What attracted us initially to Deep Fiber was that the technology was such an absolutely elegant solution to such a big problem,” says Corman. “Deep Fiber’s core ejection technology creates substantial value to the company, saves the client (cable companies) all sorts of money, and benefits property owners in that yards, streets and sidewalks don’t have to be torn up in order to install fiber.”