Wireless carrier Trilogy International raises $44 million |
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Trilogy International Partners, a Bellevue company which operates wireless networks in Bolivia, Haiti, the Dominican Republic and New Zealand, has raised $44 million in equity financing, according to a SEC filing. It is unclear how the funds will be used, and we've reached out to representatives of the company for comment.
The filing indicates that Trilogy International could raise up to $72.5 million.
Founded in November 2005 by wireless veterans John Stanton, Theresa Gillespie, and Brad Horwitz, Trilogy currently holds licenses to provide wireless service to over 33 million people. Stanton, who serves as chairman of Trilogy International, is a venture capitalist who previously served as CEO of VoiceStream Wireless (now T-Mobile USA). He was also an early McCaw Cellular executive, and now runs the Bellevue venture capital firm Trilogy Equity Partners.
Horwitz is a former Western Wireless executive, previously running that company's international operations.
Trilogy International has been investing heavily in Haiti through its Voila subsidiary, following the January 12, 2009 earthquake. In fact, the company is pushing hard to create a "copper-free" Haiti in which the poverty-stricken nation invests in new wireless technologies.
"We see Haiti as a model for information and communications services in the 21st century. Haiti, the poorest country in the Western Hemisphere, can be the first ‘copper free’ country in the world," said Stanton in prepared remarks earlier this year. "Haiti can have a first class telecom infrastructure without landline service – based completely on wireless technology. Our vision in re-building Haiti is to ‘leapfrog’ older technologies and create the basic platform – a wireless platform -- which will stimulate commerce at an accelerated pace and help stabilize a devastated country."
UPDATE: Through a spokesperson, Scott Morris, senior vice president and general counsel at Trilogy said that the new funds would be used to expand operations in New Zealand and support enhancements in other markets.
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