VC funding: Sail Internet receives funding from Newlight Partners

sail internetSail Internet, a high-speed Internet provider since 2015, announced it has received new investment from affiliates of Newlight Partners.

Terms of the transactions were not disclosed. However, the company said the capital will be used to expand Sail’s service in California.

Founded by Kevin Fisher and George Ginis, Sail provides single family homes, multifamily buildings and businesses across the San Francisco Bay Area with high-speed, contract-free, fiber-sourced internet service at an affordable price.

Before establishing Sail, Fisher served as VP, Advanced DSL Technology at Ikanos Communications (now part of Qualcomm). Kevin now serves as CEO. Ginis currently serves as Head ofTechnology at Sail.

Fisher terms the new development as “the next step in Sail’s evolution as we seek to fulfill our mission to deliver quality, high-speed, next-gen internet designed to meet consumers’ and businesses’ needs today and into the future.”

“The resources required to meet the evolving needs of our customers, more of whom are working from home than ever before, are expanding rapidly,” said Ginis. “Newlight’s investment will enable Sail to continue to innovate, build our network throughout the San Francisco Bay Area and beyond, and provide greater choice and best-in-class service.”

“In just a short period of time, Sail has built an innovative high-speed broadband network from the ground up, raised the bar for ISP customer service, taken market share from more established providers, and is poised for growth,” said Joshua Ho-Walker, managing director at Newlight.

Sail’s existing investors, including Ulu Ventures, Engineering Capital and Better Ventures, are maintaining their stakes in the business.

 

 

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