Omni Fiber has announced the closing of a $150 million debt financing from Stonepeak Credit. The company is a U.S.-based regional fiber Internet service provider with operations in 25 markets in Ohio and Pennsylvania, backed by Oak Hill Capital.
Founded in 2022, Omni Fiber has invested more than $250 million in building its XGS-PON fiber network and is on track to reach approximately 200,000 locations by the end of the year.Stonepeak Credit's financing will fund rapid expansion in additional communities in Ohio, Pennsylvania and Michigan.
Omni Fiber launched service in late 2022 and currently serves residential and commercial customers in 25 small and medium-sized communities. Construction is underway in an additional 15 communities, and network design and engineering activities are underway in many others.
With the additional funding, Omni Fiber expects to accelerate its expansion and announce additional communities in the coming months.
