IQ Fiber Secures Additional $150 Million Equity Commitment from SDC Capital Partners

IQ Fiber Secures Additional $150 Million Equity Commitment from SDC Capital Partners

Northeast Florida’s only local residential internet service provider to accelerate expansion

JACKSONVILLE, Fla., May 24, 2023 – IQ Fiber, Northeast Florida’s only local residential fiber-optic internet service provider, announces it has secured $150 million in follow-on equity funding from its founding investor SDC Capital Partners, LLC. IQ Fiber is aggressively expanding its network and is on track to deliver its Phase 1 target of 60,000 serviceable homes across metro Jacksonville and four counties in Northeast Florida. The additional equity funding will support further network deployment and customer growth in 2023 and beyond.

“We are excited to continue our partnership with SDC to offer a new choice to residents across Northeast Florida,” said Ted Schremp, Founder and CEO of IQ Fiber. “While this area has experienced significant growth over the last few years, residents continue to be underserved by incumbent providers. Our 100% fiber-optic network delivers the reliability and ultra-fast symmetrical speeds that residents need along with a streamlined customer experience they deserve.”

Established in August of 2021, IQ Fiber is deploying its 100% fiber-optic-to-the-home (FTTH) network in Duval, Nassau, St. Johns and Clay Counties with service now available in San Marco, Mandarin, Jacksonville Beach, Atlantic Beach, Orange Park, and Neptune Beach. The company employs over 75 employees at its Jacksonville headquarters.

“This additional equity commitment is a reflection of IQ Fiber’s success and our confidence in the significant growth potential ahead,” said Clinton Karcher, partner at SDC Capital Partners. “We’re excited about the growth opportunity in Northeast Florida and look forward to continued partnership with the IQ Fiber team.”

IQ Fiber’s 100% fiber-optic network is capable of symmetrical speeds of up to 10 gigabits per second and is far superior to telephone or cable-based internet. The network consists of underground conduit and fiber-optic cables extending from the core internet backbone directly into individual homes, allowing for the fastest internet speeds available while supporting the explosive growth in internet usage and demand.

IQ Fiber offers simple month-to-month rates with no fees, surcharges or surprise price increases. IQ Fiber delivers symmetrical speeds along with whole-home Wi-Fi service and a simple app to manage the ever-growing number of Wi-Fi devices in the home.

IQ Fiber, headquartered in Jacksonville, is bringing high-speed, state-of-the-art 100% fiber-optic internet to areas of Northeast Florida that do not currently have access to modern, symmetrical broadband services.

About IQ Fiber

IQ Fiber is Northeast Florida’s only local fiber-optic internet service provider. Headquartered in Jacksonville, IQ Fiber is transforming the residential broadband market by offering a 100% fiber-optic network with a stress-free guarantee: no contracts, hidden fees, or data caps. Its network is supported by live, local customer service. IQ Fiber is focused on rapidly expanding its residential fiber network across Clay, Duval, Nassau and St. Johns Counties. For more information, visit www.iqfiber.com.

Frequently Asked Questions

The internet is the heartbeat of the modern home. We’ve come to rely on it for work, education, entertainment, and shopping. Fiber is the best solution to provide internet because it is:

FAST — 1000 mbps (1G) of speed with fiber internet is about 20 times faster than standard cable. Your time is valuable, so don’t waste it waiting for your internet to load!
RELIABLE — IQ Fiber provides dedicated bandwidth directly to your home, so your speeds don’t dip during peak traffic hours or as more neighbors join the Fiberhood.
SYMMETRICAL — Only fiber has symmetrical upload and download speeds so no matter what you’re doing, you can get it done quickly.
FUTURE-PROOF — Fiber cables are more lightweight, durable, and resilient than copper. Its bandwidth capacity far exceeds what any home requires, so we’ll grow with you as technology changes in the future.
SUSTAINABLE — Traditional cable uses about 12 times more energy than fiber. It generates less heat and is made from more sustainable materials.

Symmetrical speeds are when upload and download speeds are equal. Older mediums like cable and DSL are asymmetrical, meaning you aren’t able to upload data as quickly as you can download it. When your speeds are symmetrical it means video calls work better, video games play faster, and your photos upload in an instant.

Fiber-optic networks are built to transmit data through a thin fiber glass strand using pulses of light. Because each strand is dedicated to each home, there is no sharing of bandwidth between neighbors. In addition, fiber-optic networks need very little electrical power to operate. The data is transmitted at the same speed to the home as it is away from the home with very little lag. Fiber-optic networks are the fastest and most reliable home internet technology available today.

5G is a form of wireless broadband delivered using nearby cell towers while fiber-optic internet is connected directly to your home. FTTH (fiber to the home) connections provide dedicated bandwidth while a 5G shares bandwidth with your neighbors. Though 5G wireless is great for mobile devices when you aren’t home, fiber-optic is much faster and more reliable to use for the many connected devices within your home.

Yes. In most cases you will be able to keep your existing services. However, once you move to our services, you’ll have enough speed and bandwidth to manage all your services over the internet. It’s also easy to move to a voice-over-internet-protocol (VOIP) service like Google Voice or Vonage where you can keep your phone number. You always have the option to remove your home phone altogether in favor of using your cell exclusively instead. Most national security monitoring companies offer “cut the cable cord” services with faster response times than a landline can offer.

Frequently Asked Questions

What’s so special about fiber-optic internet?

What is a symmetrical internet connection?

How does fiber-optic internet work?

How is fiber different from wireless 5G? Is it better?

Can I keep my existing TV, phone, and security services?