Hyperoptic extends network across 750,000 UK homes and businesses

Hyperoptic has today announced that its network now extends to over 750,000 homes and businesses. It is also fast approaching hitting the milestone of a quarter of a million customers now live, with over 230,000 customers currently receiving its full fibre service.

Hyperoptic focuses exclusively on high density urban areas, connecting all building types across multi-dwelling units, existing developments and new build homes. It is backed by global investment firm KKR.

Hyperoptic attributes its high customer acquisition rate to its approach to network investment, where it prioritises delivering services to areas that need improved connectivity most and where demand is the highest. This is supported by its best-in-class customer service, which sees Hyperoptic having more 5* ratings than Sky, BT and Virgin Media combined.

Its network growth has also been fuelled by its relationships with over 50 UK councils, 250+ developer partners and nationwide partnerships with the UK’s leading housebuilders, including Barratt Homes, CALA Homes, and Avant Homes.

Dana Tobak, CEO, Hyperoptic: “The full fibre market is reaching a point of scale in its rollout, as the market collectively hits 28% coverage across the UK. As our industry grows, network operators need to show that their investment is sustainable and is delivering a service that customers are willing to pay for. For Hyperoptic, that means our growth is aligned to a dual focus; investing capital smartly to give the best return for both our customers and our business model.

“With our revenues now reaching over eight times that of Community Fibre and G.Networks combined¹, as well as our customer base establishing us as the UK’s largest exclusively full fibre Internet Service Provider, we are confident that we have developed a strong, resilient business model for long term sustainable growth.

“Our plan is to continue scaling whilst delivering a phenomenal customer experience and, crucially, ensuring we maintain our strong customer take-up rates. To drive that, we are also setting the twin goals of our network passing two million homes by the end of 2023, whilst also maintaining a penetration rate of at least 30% where our network is over two years old”

Vincent Policard, Partner and Co-Head of European Infrastructure at KKR: “We have a strong track record of investing behind exciting digital telecommunications infrastructure companies. Hyperoptic is a rising star in UK telecoms, as it continues to deploy capital and network investment in a smart way, staying focused on connecting customers that need and take the service.”

¹For the last publicly announced results:
Dec 2020, Hyperoptic, £51.7m
Dec 2020, Community Fibre: £3.77m
March 2021, G.Networks, £2.63m