Newsroom at aervivo
Aervivo’s empowering multi-family community owners to solve connectivity challenges; raises $1.5M in new investment and strengthens leadership team
October 26, 2023
SAN DIEGO, Calif -- 42 Million Americans still lack access to Broadband while tens of millions more have no choice in their Internet Service Provider leading to poor service and high prices. Aervivo is focused on solving this by empowering commercial and residential real estate owners and managers to solve the connectivity challenges facing their communities without having to rely on incumbent ISPs.
Aervivo announced today that the cloud-based Aervivo Connectivity Platform now includes support for multi-family communities and the platform is already enabling owners and managers to quickly and cost effectively provide fiber-grade services to their residents. Using the Aervivo Cloud to deliver those services creates much needed growth in net operating income for owners and managers, generating an outstanding return on investment.
Following successful launches with a number of partners, helping them deliver a best-in-class, symmetric gigabit managed WiFi service to their residents, Aervivo also announced today that it closed $1.5M in additional equity financing to support their growth and expansion into the multi-family real estate segment. The round included capital infusion from several existing investors, including Kickstart Fund, Aries Capital Partners, Stormbreaker Ventures and McKay Brothers.
“We are excited to be part of bringing world class connectivity experiences to more communities across the US, and beyond, in collaboration with our property owner partners”, Mike Hart, CEO and Founder of Aervivo said. He continued: “Our first partners have demonstrated how our years of experience and investment in the Aervivo Connectivity Platform can democratize connectivity. We have empowered community owners and leaders with little experience of deployment and operating networks to quickly and easily solve their connectivity challenges, using the Aervivo Cloud and the Aervivo Connectivity Platform”.
Chris Fullam, Aervivo’s COO, will join the Board of Directors, having previously served in Operations leadership roles at Verizon FIOS and Google Fiber. “I’m really looking forward to joining the Board of Directors at this exciting stage in Aervivo’s growth”, said Chris. He continued: “Aervivo is well positioned to accelerate its pace of growth and deliver outstanding value to our Partners”.
Aervivo also announced two other leadership team changes. Nikki Boatwright recently joined the company to head-up Business Development and Sales. Nikki brings a wealth of experience in the commercial real estate industry with her previous senior leadership roles at CBRE and 5G LLC. Mindy Torbit is stepping up to lead and grow Aervivo’s Customer Success team, underlining its commitment to building lasting partnerships with the community owners it supports.
Aervivo’s mission is to democratize the ISP industry by enabling owners, managers and leaders of communities to deliver fiber-grade connectivity experience to their residents quickly and easily, and at a fraction of the cost of traditional approaches. Aervivo’s Connectivity Platform enables its partners to rapidly deploy cost-effective multi-gigabit, managed WiFi connectivity experiences through a combination of fiber, ethernet and its industry-leading wireless mesh technology, all powered by the Aervivo Cloud that simplifies deployment, scaling and operation.