Newsroom at aervivo
Aervivo Secures $1.0M Financing from Silicon Valley Bank
August 10, 2021
SAN JOSE, Calif -- Aervivo, the developer of a revolutionary 5G fixed wireless connectivity platform that enables fiber-grade experiences at a fraction of the cost, today announced that it has entered into a growth capital debt facility with Silicon Valley Bank (SVB), the bank of the world’s most innovative companies and their investors. This agreement provides up to $1 million of new capital to support Aervivo’s continued growth as it prepares to launch its fiber-grade connectivity platform.
The $1 million financing adds to the $4.25M Aervivo raised earlier this year as part of its seed round. Having closed this additional financing, Aervivo is well positioned to support its partners as it rolls out its commercially proven, fiber-grade connectivity platform across several US markets. Its partners will start launching disruptive connectivity services in the first markets later this year, bringing much needed competition and choice to a range of communities.
“We’re excited to work with SVB and secure additional capital that will accelerate us on our mission to democratize the ISP industry,” Mike Hart, CEO of Aervivo said. “We selected to work with SVB because of their founder-friendly approach and long-standing commitment to supporting companies from an early stage, along with the comprehensive banking platform they provide.”
“We are proud to support Aervivo as they progress toward democratizing the ISP industry,” said Jaque Elliott, Director at Silicon Valley Bank. “We are committed to supporting innovative businesses that are disrupting the status quo. We look forward to continuing our relationship with Aervivo as they expand and grow.”
Aervivo’s mission is to democratize the ISP industry, enabling easy to deploy fiber-grade connectivity at a fraction of the cost. It partners with leading ISPs and new entrants, empowering them to quickly launch new markets, extend presence, and upgrade legacy networks. Its industry-leading wireless mesh technology, cloud-based service platform and SaaS business model allows its partners to deliver affordable, high-speed connectivity with an industry-leading customer experience. As well as enabling Gbps services to homes, offices and other fixed locations via its unique millimeter wave mesh technology across communities, campuses and private developments, its platform enables partners to deploy complementary private LTE and 5G networking services for connectivity on-the-go. Visit the newsroom for the latest company information or follow on LinkedIn.
About Silicon Valley Bank
For nearly 40 years, Silicon Valley Bank (SVB) has helped innovative companies and their investors move bold ideas forward, fast. SVB provides targeted financial services and expertise through its offices in innovation centers around the world. With commercial, international and private banking services, SVB helps address the unique needs of innovators. Learn more at svb.com.