LiveOak Fiber (LiveOak), a regional broadband service provider founded in 2022, has announced it has secured additional funding through a co-investment partnership between InfraRed Capital Partners and MEAG, the Asset Manager of Munich Reinsurance Company (“Munich Re”) and its wholly-owned direct and indirect subsidiaries. This new investment will further support LiveOak's mission to deliver high-speed broadband to underserved markets in the southeast United States.
Since its founding in June 2022, LiveOak Fiber has made significant strides in bridging the digital divide across Florida and Georgia. The company has already completed more than 50% of its planned network builds in Northwest Florida, signalling its commitment to expanding its reach. In total, it has deployed more than $200 million in investment and constructed over 1,000 miles of fiber.
"This additional funding reaffirms our commitment to the communities we serve," said Jody Craft, CEO of LiveOak Fiber. "We're not just building infrastructure; we're investing in the future of these communities across the region to enable economic growth and enhance the quality of life.”
The new investment builds upon LiveOak's recent success in securing $250 million in financing underwritten by J.P. Morgan. This combined financial backing will allow LiveOak to accelerate its expansion plans and reach more homes and businesses in need of reliable, high-speed Internet access.
LiveOak Fiber currently serves residential and business customers across five counties in Florida and Georgia, targeting areas that have historically seen limited investment in fiber infrastructure. The company's focus on these underserved markets aligns with its mission to provide essential connectivity to communities that need it most. As LiveOak Fiber moves forward with this expanded funding, the company remains dedicated to its core values of community investment and service excellence. Residents and businesses in LiveOak's service areas can look forward to increased access to ultra-fast broadband internet and advanced communications solutions in the near future.
