Aerwave Company Profile

Background

Founded in 2019, Aerwave is a next-generation managed Wi-Fi platform headquartered in Dallas, Texas. The company specializes in providing seamless, high-speed internet connectivity solutions tailored for multifamily residential communities across the United States. Aerwave's mission is to empower people to connect and enable smarter buildings by delivering reliable, property-wide Wi-Fi networks that enhance both resident experiences and property management operations.

Key Strategic Focus

Aerwave's strategic focus centers on revolutionizing digital infrastructure within the multifamily housing sector. By leveraging fiber-based mesh networking and proprietary software, the company offers gigabit-plus internet services that ensure consistent and secure connectivity throughout entire properties. This approach not only enhances resident satisfaction but also supports the integration of smart home technologies, self-guided tours, and efficient property management systems.

Financials and Funding

Since its inception, Aerwave has successfully secured significant funding to fuel its growth and technological advancements:

• Series A Funding (2022): Raised $20 million, led by Moderne Ventures, with participation from World Cinema, Inc., Equity Residential, RWT Horizons, and Westover Companies.

• Series B Funding (2024): Secured an additional $20 million, led by Moderne Ventures and an S&P 500 REIT, with contributions from Dominicus Wireless.

These investments are earmarked for expanding Aerwave's market presence, enhancing product offerings, and supporting the company's rapid growth trajectory.

Technological Platform and Innovation

Aerwave distinguishes itself through its innovative technological platform, which includes:

• Fiber-Based Mesh Networking: Ensures robust, high-speed internet connectivity across entire properties without the need for individual routers in each unit.

• Proprietary Software: Facilitates the creation of virtual networks that automatically recognize and authenticate residents, allowing seamless access to personal Wi-Fi networks throughout the property.

• Private VLANs and Unique Encryption: Provides each user with a private Virtual LAN (VLAN) and unique data encryption, enhancing security and privacy.

Leadership Team

Aerwave's leadership comprises seasoned professionals with extensive experience in real estate and technology:

• Jeff Kok: Chief Executive Officer and Board Member.

• Ed Wolff: President and Chief Revenue Officer.

• Dan Jensen: Chief Strategy Officer and Co-Founder.

• Charlie Walker: Chief Operations Officer.

• Lynn Dunlap-Regan: Senior Vice President, Customer Experience.

• Chris Hazlett: Senior Vice President, Sales & National Accounts.

• Mike Stanway: Senior Vice President, Operations.

• Patrick Hodge: Vice President, Sales.

• Michelle Norris: Vice President, Sales.

This team brings a wealth of expertise, driving Aerwave's mission to transform connectivity in multifamily communities.

Leadership Changes

In April 2024, Aerwave appointed Ed Wolff, a multifamily industry veteran, as President and Chief Revenue Officer, signaling a strategic emphasis on industry expertise and growth.

Competitor Profile

Market Insights and Dynamics

The managed Wi-Fi market for multifamily residences is experiencing significant growth, driven by increasing demand for reliable, high-speed internet and the integration of smart home technologies. Property owners and managers are seeking solutions that enhance resident satisfaction and streamline operations, positioning companies like Aerwave at the forefront of this evolving landscape.

Competitor Analysis

Key competitors in the managed Wi-Fi space include:

• Lux Speed: Offers high-speed internet solutions tailored for residential communities.

• Starry: Provides wireless broadband services with a focus on urban areas.

• Single Digits: Specializes in managed Wi-Fi services for hospitality and multifamily sectors.

• GiGstreem: Delivers high-speed internet services to residential and commercial properties.

• Whitesky Communications: Offers managed network services for multifamily and hospitality industries.

Aerwave differentiates itself through its proprietary technology, focus on multifamily communities, and commitment to enhancing both resident and property management experiences.

Strategic Collaborations and Partnerships

Aerwave has established significant partnerships to strengthen its market position:

• Equity Residential: A leading real estate investment trust (REIT) focusing on multifamily properties.

• World Cinema, Inc.: A provider of video, advanced connectivity, and professional services to properties and enterprises.

• Moderne Ventures: A strategic venture capital firm investing in technology companies within real estate and related sectors.

These collaborations enhance Aerwave's capabilities and expand its reach within the market.