Bath-based fibre network provider Truespeed has received an additional £100 million in funding from Aviva Investors. The new capital will be used to further accelerate the roll-out and delivery of ultrafast, gigabit-capable fibre network services to homes and businesses across South West England. Since 2017, Truespeed has raised a total of £175 million.
As hybrid and remote working models begin to formalise, there’s one thing that’s clear: they’re here to stay, and returning to a 9-5, Monday-Friday at the office is nothing more than a memory to many. However, if you’re not living in a dense urban environment, keeping pace can be problematic.
Since 2014 Truespeed has been rolling out ever-faster broadband services across the South West of England, an area traditionally underserved when it comes to the business of buffering, or lack thereof, as may be the case.
With a primary focus on Somerset, Truespeed has doubled the size of its network over the past year, and provides Bath and Wells with high speed, full-fibre connectivity, and announced just a few weeks prior, Glastonbury, Shepton Mallet, and Street are slated to receive the gigabit touch in the coming year.
In addition to bringing high speeds to residential addresses, Truespeed counts Yeo Valley and Thatchers Cider amongst the number of businesses that rely on their services to remain on par with, if not exceed, the competition.
Truespeed is backed solely by London's Aviva Investors.
“Since our initial investment in 2017, Truespeed has continued to successfully deliver essential gigabit-capable broadband infrastructure to under-served locations across the South West of the UK,” commented Aviva Investors’ Sean McLachlan. “This second tranche of funding reflects our belief that the company and its activities not only represent a sound investment but also create significant social benefits for local communities across the country.”