Everstream operates a business-only fiber network offering dedicated internet access, dark fiber, Ethernet and data center solutions. The company has grown to more than 25,000 route miles of fiber and over 3,600 on-net buildings, with speeds up to 100 Gbps. Everstream serves metro and rural areas across the Midwest and Mid-Atlantic, providing direct connections to data centers, cloud providers and supporting 5G and next‑gen technologies. It plans to expand into seven new markets, densify existing markets, and connect thousands of macro towers across its 10-state footprint through June 2022. Financially, Everstream secured an additional $140 million in debt financing to fund this growth; that tranche was oversubscribed by $40 million. The company reported the financing brings the total invested by this group of bankers to $567 million. Everstream Solutions is a Cleveland-based network service provider that delivers fiber-based Ethernet, Internet and data center solutions to business customers throughout Northeast Ohio. The company operates over 2,500 miles of fiber across 24 counties and offers comprehensive data center connectivity at 10 Gigabit speed. In October 2015 Everstream agreed to receive a $50M investment from Boston-based M/C Partners and investors advised by the Private Equity Group of J.P. Morgan Asset Management; the transaction was scheduled to close on October 15, 2015. Proceeds are earmarked for expansion, customer acquisition and retiring existing debt. As part of the deal Everstream will acquire a majority of the fiber assets owned by OneCommunity and will be structured as a standalone organization, while OneCommunity will retain a minority interest and receive funds to support its mission-related work. Brett Lindsey, currently chief operating officer of OneCommunity and president of Everstream, will serve as Everstream's chief executive officer going forward.

Total raised

$190M

Funding rounds

2

Latest round

Debt Financing

Latest activity

Jul 2021