Trillion Closes $10.3 Million Round of Funding
Thursday, September 25, 2003 at 12:32
Details
AUSTIN, TEXAS - September 12, 2003 - Trillion, the leading provider of wireless broadband communications services to the education sector, announced it has closed on $10.3 million in equity financing. Primary investors include Meritage Private Equity Funds and the Summit Capital Group.
"The funding highlights our position as a financially secure market leader." said Bear Poth, Trillion's President and CEO. "Strong financing coupled with a healthy market demand is allowing Trillion to accelerate our expansion into new states in the western U.S.," he added.
Stephanie Smeltzer, VP at Meritage, said "The company has a strong Board and management team, a best-in-class service offering and a valuable strategic partnership agreement in place. These qualities represented a very attractive investment for Meritage."
Meritage was joined in the investment by the Summit Capital Group, a Denver-base investment firm that targets proven business plans with high growth potential.
About Trillion
Trillion, headquartered in Austin, Texas, is a leading provider of "last mile" broadband connectivity and high-speed Internet access for schools, government and municipalities, libraries, medical facilities and higher education. Trillion specializes in designing, installing, operating and maintaining wide area network systems that utilize state-of-the-art wireless technology. Trillion was formed in October 2002 by Meritage Private Equity Funds and Bear Poth as an affiliate of Trillion Digital Communications of Birmingham, Alabama.
For more information, please visit our Internet site at www.trillion.net or contact Trillion at (512) 334-4100.
Trillion Value System:
- Integrity and Ethics
- Professionalism and Respect
- Customer Driven
- Having Fun
About Meritage
Meritage combines equity and expertise to create valuable communications businesses.
Meritage Private Equity Funds is a Denver-based family of communications-oriented funds founded in 1998 with more than $475 million of committed capital under management. Meritage invests in early- or late-stage communications businesses including broadband service providers, Internet infrastructure and outsourced communications services. Using a team approach, the firm provides both equity and hands-on expertise to create value for its portfolio companies.
For more information, please visit www.meritagefunds.com.
About Summit Capital
Summit Capital Group is a Denver-based private entity which invests, either directly or with other venture/buyout funds, in the following sectors: telecommunications, media, entertainment, emerging technologies and restaurant/hospitality. The firm typically provides equity and expertise to firms within these sectors.
