Strategic Venue Partners (SVP), the leading provider of in-building wireless connectivity-as-a-service, has secured funding with TD Securities. The facility will be used to fund future wireless infrastructure development with new and existing venue customers.
The Growing Need for Wireless Infrastructure Development
SVP provides services to healthcare, hospitality, commercial real estate and educational venues. As we move through the COVID-19 pandemic, each of these types of venues will have different needs that will require more reliable connections.
- Healthcare facilities require higher connectivity due to increased telehealth visits. Telehealth visits experienced a 154% increase during the last week of March 2020 as compared to the same time period in 2019.
- The use of touchless experiences at hospitality venues has accelerated throughout the pandemic. For example, 80% of guests now prefer remote checkout experiences.
- Educational facilities are shifting to more digitally enabled campuses as more students and teachers use electronic devices for daily learning both on and off campus.
- Commercial real estate buildings are growing and evolving. As employees return to the office post-pandemic, there will be a lot of pressure on building managers to offer the highest level of connectivity possible.
SVP designs, builds, funds, owns, and operates distributed antenna systems, public safety systems, CBRS, WiFi, fiber, small cells, and other similar in-building wireless systems for demand driven critical infrastructure by venue owners and operators. The additional funding secured by SVP will give them more flexibility to bring its custom managed service agreements to more businesses for ongoing wireless infrastructure development.
“This transaction is a major milestone that will enable SVP to meet the growing demand for de-risked, long-term, managed wireless infrastructure with an efficient capital structure solution. We look forward to the continued ability to transform wireless connectivity solutions for our customers through our unique managed service solution fueled by the confidence and financial backing of our new partners at TD Securities.” – Justin Marron, CEO of SVP
Previous In-Building Wireless Projects
SVP has completed projects with leading healthcare, hospitality and retail venues across the United States. SVP recently launched state-of-the-art in-building DAS and Public Safety Systems that will improve the way healthcare staff and patients communicate at two Parkview Healthcare System facilities in northern Indiana. SVP also recently expanded its strategic partnership with Unibail-Rodamco-Westfield by upgrading the wireless infrastructure at 14 Westfield shopping centers to meet increased customer and wireless carrier demand. Additionally, Resorts World Las Vegas, the largest and newest resort and casino in Las Vegas, will feature an SVP wireless system scheduled to come online in May 2021.
To learn more about SVP’s in-building wireless connectivity solutions and to follow the latest news, visit www.strategicvenue.com.