NextWeb, Inc. is a broadband network service provider delivering local access and advanced IP applications to corporate users over its next-generation fixed-wireless network. A better alternative to a T1, NextWeb’s service is 30% faster than a T1 at half the cost. NextWeb is able to provide unprecedented value by completely bypassing the local phone company and eliminating the high-costs and limitations of traditional T1 and fiber-based access technologies. With speeds from 1Mbps to 10Mbps, NextWeb’s service scales from T1 speeds to fractional DS-3 speeds with no additional equipment or line changes. NextWeb enables additional value-added services such as voice, video and network-based business applications. The NextWeb network spans over 800 square miles with access to over 30,000 business locations throughout the San Francisco Bay Area, Silicon Valley, and Orange County.
NextWeb was acquired by Covad (AMEX: DVW) in February 2006.
Financials
| Date | Type | Amount | Investors | Valuation |
|---|---|---|---|---|
| 08/24/05 | Series E | 3.5M | Monet Capital, LLC, Saints Capital, Sunsino Ventures Group, Tenet Ventures, Kaiser Permanente National Venture Development | Unknown |