WASHINGTON, DC, NewConnect announced it has completed a capital raise for an undisclosed amount with Blu Venture Investors.
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NewConnect, a Bethesda-based provider of high speed Internet access to commercial buildings and enterprises throughout the greater D.C. market, announced it has completed a capital raise for an undisclosed amount with Blu Venture Investors. Blu Venture Investors, a Virginia-based Primary Source Venture Capital firm, has been a strategic partner of NewConnect for over 18 months and sees the value in a second round to further expand NewConnect's growth efforts. NewConnect plans to use the new funding to support market expansion and to further fuel revenue growth. "From the beginning, our business has grown organically, but now we are excited to accelerate these efforts to reach more customers, much faster. Blu was the only group that we considered and they have proven to be more than an investor," said NewConnect CEO David Wallis. "The future of data transmission is through airwaves and with this raise, the future is now."
About NewConnect, LLC
NewConnect is the Mid-Atlantic region's leading Fixed-Wireless Internet Service Provider. Its next generation Wireless Fiber network was purpose-built to bypass the challenges and limitations of underground telecom to deliver higher speeds, quicker installations, and the only alternative to Verizon and the cable companies. As a customer's primary Internet provider or redundant supplier, NewConnect delivers dedicated Internet access from 20 Mbps to 10 Gbps covering the full spectrum of connectivity needs for businesses, large or small. Find more about NewConnect at http://www.gonewconnect.com.
About Blu Venture Investors, LLC
Blu Venture Investors is a Primary Source Venture Capital firm. Blu's 25 Principals, who are successful current and former operators, bring expertise across a variety of industries and an investment perspective closely aligned with entrepreneurs. Blu invests in -- and provides active mentorship to -- early-stage companies primarily in the Mid-Atlantic region with primary focus on technology companies that have SaaS and/or enterprise software models in diverse domains such as Cybersecurity, IoT, Digital Media, non-invasive Biological Sciences, and technology companies targeting solutions for the U.S. Department of Defense, Homeland Security and Intelligence Community sectors. Find more about Blu Venture Investors, LLC at http://www.bluventureinvestors.com.