Aerwave Secures $20 Million in Series B Funding to Expand Managed WiFi Solutions for Multifamily Industry

Aerwave, a managed WiFi platform focused on enhancing connectivity in the multifamily real estate sector, announced the closing of a $20 million Series B investment led by Moderne Ventures and a S&P 500 REIT. Additional participation in the round came from Dominicus Wireless. The funding will allow Aerwave to further its expansion across the multifamily industry and drive product innovations aimed at meeting the growing digital demands of residents.

Since its founding in 2019, Aerwave has grown its portfolio to include more than 34,000 apartment units across 28 U.S. markets. The company aims to use this new capital to enhance its platform and accelerate its customer base growth. Aerwave's connectivity solutions leverage fiber-based mesh networking technology to deliver gigabit-speed internet throughout multifamily properties. With a growing presence among top multifamily REITs and property owners, Aerwave plans to double in size by 2025.

Constance Freedman, Founder and Managing Partner at Moderne Ventures, noted the importance of strong WiFi infrastructure in today's digital age. “Aerwave’s impressive expansion and vast customer base is a testament to their differentiated approach,” she said. Aerwave CEO Jeff Kok emphasized the company's commitment to providing superior service and products as it continues to solidify its industry presence.