Major fiber internet provider in California gets $500 million to expand network into more cities

This capital will support Race's plan to extend its fiber network to one million locations across California over the coming years.Photo byChristopher BurnsonUnsplash

Race Communications, a provider of Fiber-to-the-Home (FTTH) internet in California, announced it has raised over $500 million in capital to accelerate the expansion of its high-speed fiber network. The funding includes $375 million in equity from Oak Hill Capital and additional debt financing from AB Private Credit Investors. This capital will support Race's plan to extend its fiber network to one million locations across California over the coming years.

Currently serving around 200,000 locations, Race Communications aims to further bridge the digital divide, focusing on both suburban and rural communities. CEO Raul Alcaraz expressed excitement about the expansion, calling California a "tremendous opportunity for fiber deployment."

Oak Hill Capital, Race's majority investor since 2020, reaffirmed its commitment to the company's growth.