Texas-based broadband service provider Tachus, LLC says it has received what it termed “significant” funding from existing investor Crosstimbers Capital Group.
The exact amount of the funding, as well as other terms of the transaction, were not disclosed. Tachus will use the money to expand its fiber to the home (FTTH) network and customer base in the Houston area.
Founded in 2018 with headquarters in The Woodlands, TX, and founded in 2018, Tachus provides broadband internet and telecommunications services at a lifetime fixed rate with no data caps to residents in the Greater Houston area.
Tachus plans to use the new funding to expand its FTTH footprint beyond the current 40,000 homes, with the expectation to double its footprint in 2022. The company has earmarked more than $30 million to pass an additional 25,000 homes in The Woodlands as part of this effort.
The company also hopes to expand its customer base to include small- and medium-sized businesses. It currently serves more than 10,000 customers.
“We are thrilled to work with Crosstimbers as we continue our rapid expansion into more Houston-area homes,” said Hal Brumfield, Tachus co-founder and CEO. “With Crosstimbers’ support, we will continue to meet the growing demand for our 100% underground, enterprise-grade fiber-optic network and deliver on our mission to provide fast, reliable Internet that requires no explanation.”
“This investment will accelerate our initial vision for Tachus, allowing us to more rapidly pass households, as well as opportunistically serve business customers along our network routes, in the Greater Houston area,” added Carter Old, Tachus co-founder, president, and chief growth officer. “I’m also pleased that Crosstimbers will remain our principal investor. They have been a vital contributor to our growth and success over the past three years, and we look forward to continuing this close working relationship.”