Upstate broadband company expands with $7.5M investment

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As broadband investment projects unfurl across the state, Greenville-based Broadband Infrastructure Inc. received $7.5 million in capital from a recent funding deal with Emigrant Business Credit.

BbI, parent company to Carolina Underground Solutions LLC and Absolute Technologies LLC, will use the capital to finance its expansion as 2020’s Roaring Twenties Small Company honoree.

“We are in an industry boom, based on the massive fiber optic infrastructure buildouts taking place across the country, and these buildouts will likely go on for the next 10 years,” Brad Cunningham, CEO of Broadband Infrastructure, said in a news release. “Securing access to significant capital is critical to growth and long-term success for the BbI team and our customers.”

Essex Capital Group from Tampa, Fla., facilitated the deal, which was sourced by Bbl Vice President Allen Veach.

“We have an amazing team to answer to the call of this industry, and we are extremely excited and blessed to be positioned to do so,” Cunningham said. “We are working hard to capitalize on this opportunity to expand our robust growth.”