Sponsored By

Everest Closes Round Four

Series D funding round, led by Pequot and Exelon, brings total raised so far to $88 million

January 4, 2002

1 Min Read

FORT LEE, N.J. -- Everest Broadband Networks today announced it has completed its fourth round of financing with Pequot Capital Management and Exelon Capital Partners. Both companies are existing shareholders who renewed their commitment in the current round, bringing Everest’s total capitalization to $88 million to date. The investment is a validation of Everest’s strategy and leading position in a challenging market.Everest Broadband Networks is a Metropolitan Broadband Services Provider, serving businesses in North America. The company is a fast-growing survivor in the telecommunications services market, which has experienced a severe downturn over the last several quarters. Everest currently provides well in excess of 1,000 commercial customers nationwide with high speed Internet access, local and long distance voice, web hosting, audio conferencing and other services and applications.Gerald Poch, Managing Director of Pequot Capital Management said, “Everest’s ability to prove itself in an unforgiving market has made the company a leader in its space. The management team is executing against a sound business plan and not only winning customers but keeping them over the long term. This additional round of financing will provide Everest with the means to continue on its fast-track to profitability.”Everest Broadband Networks

Subscribe and receive the latest news from the industry.
Join 62,000+ members. Yes it's completely free.

You May Also Like