NBN alternative startup Uniti Wireless scores $5 million in funding from SA government to fuel growth across Australia
Adelaide telecoms startup Uniti Wireless has secured $5 million from the South Australian government’s Future Jobs Fund to more than double its workforce and take its NBN alternative across Australia.
Founded in 2014 in a bid to provide a faster and more reliable alternative to the National Broadband Network (NBN), Uniti Wireless raised $3 million in a pre-IPO funding round in March last year.
Since then, while it hasn’t actually gone ahead with an initial public offering yet, chief financial officer Peter Wildy tells StartupSmart the business has seen significant growth.
Over the past 12 months, Wildy says the startup’s customer base has grown by 130%. And over the past two years, revenues have grown 175%.
Now, it plans to use the $5 million in funds to create around 200 jobs in its engineering and software development, customer support, sales and marketing teams, as it continues its rollout in Adelaide and Melbourne, while also fueling an expansion to Sydney, Brisbane and Perth.
Stephanie Palmer-Derrien - Startup Smart - 4 Sep 2018