Archtop Fiber, a provider of multi-gig, 100%-fiber Internet and phone service to residential and business customers across the Northeast, has successfully closed on a new credit facility agented and led by Chicago-based, Monroe Capital (“Monroe”).
This credit facility provides the Company with nearly $200 million in additional capital to execute its aggressive market expansion plans in the Northeast. Archtop is a portfolio company of Post Road Group, an alternative asset manager with an investment strategy focused on providing growth capital to digital infrastructure businesses.
This new financial partnership with Monroe and co-investors marks a significant milestone for Archtop Fiber. The transaction reflects continued support from Post Road Group and the Company’s existing investor base, who remain committed to scaling the platform. The investment supports immediate expansion initiatives and lays the foundation for further capital funding opportunities as the company’s all-fiber network expansion and company profile continue to grow in the region and industry.
The new capital infusion aligns with Archtop Fiber’s long-term vision of expanding its footprint and enhancing its service offerings. As the Company continues to grow, it remains committed to delivering the fastest, most reliable and most environmentally friendly fiber Internet to homes and businesses in overlooked and underserved communities, as well as providing value to its partners and stakeholders.
Grant Funding and Service Rollouts Fuel Momentum
In addition to private financing, Archtop Fiber is also leveraging public investments to bridge the digital divide. The Company has signed a Memorandum of Understanding with Sullivan County, New York, to extend multi-gig fiber within the county. In November, New York Gov. Kathy Hochul and U.S. Sens. Charles Schumer and Kirsten Gillibrand announced the county would receive $30 million through the ConnectALL Municipal Infrastructure Grant Program, enabling Archtop to further expand broadband infrastructure.
In March, Massachusetts Gov. Maura Healey announced that Archtop Fiber will be among the recipients of $10.4 million in grants to improve Internet access in public and affordable housing, bringing better connectivity opportunities to underserved communities throughout the state.
Archtop Fiber service is now live in six communities, with several more set to come online soon. Archtop’s boots on the ground are not only installing cutting-edge fiber technology — they’re also engaging with elected representatives, local residents and businesses alike to become a key partner and resource for the public good.
Since early 2024, Archtop has launched service in Kingston, Saugerties, Rhinebeck, Hudson, Warwick, and Woodstock, New York and Vernon, New Jersey. In the coming months, Archtop will light up more markets, including Catskill, Red Hook and Tivoli, New York, and Pittsfield/Berkshires, Massachusetts. Additionally, Archtop is gearing up to soon deliver 5 and 8Gbps Internet speeds for residential customers in its newly developed areas.
Jeff DeMond, Chairman and CEO of Archtop Fiber
We are thrilled to secure this substantial source of funding, which will accelerate our ability to scale and reach new markets. This partnership with Monroe represents a strong vote of confidence in our business strategy and growth potential.
Andrew Runk, Managing Director at Post Road Group
We believe Archtop Fiber is building a generational platform in fiber broadband by combining a world-class leadership team with a compelling strategy to serve overlooked communities. This capital raise is a testament to the Company’s execution to date and positions Archtop to accelerate its impact across the Northeast.
Kyle Asher, Managing Director and Co-Head, Alternative Credit Solutions of Monroe
The Archtop platform is a major catalyst for digital transformation on the East Coast. Monroe’s Alternative Credit Solutions team is proud to complete another deal with Post Road Group and support the Archtop team.
