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Based in Dallas, Texas, Aerwave develops a managed Wi-Fi platform and fiber backbone infrastructure that delivers high-speed internet access across multifamily residential communities and student housing properties. The company provides property managers with a business-to-business software-as-a-service solution that enables secure, property-wide connectivity, smart home device integrations, Wi-Fi calling capabilities, and automated network management. Operating with an estimated workforce of 51 to 200 employees, the enterprise has secured $20 million in total venture capital funding to scale its telecommunications operations and expand its executive leadership team across the United States. The firm is backed by lead investors including Moderne Ventures and Dominicus Wireless, while its customer portfolio features major real estate operators such as Brookfield Properties, Amli Residential, and Nexpoint. Aerwave was officially founded in 2019 by co-founders Alex Wey, Daniel Jensen, and Ed O'Keefe.
Aerwave has raised $40.0M across 2 funding rounds.
Aerwave has raised $40.0M in total across 2 funding rounds.
Aerwave has raised $40.0M across 2 funding rounds. Most recently, it raised $20.0M Series B in September 2024.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Sep 1, 2024 | $20M Series B | Moderne Ventures | FasterCapital | Announced |
| Oct 1, 2022 | $20M Series A | Moderne Ventures | FasterCapital | Announced |
Aerwave has raised $40.0M in total across 2 funding rounds.
Aerwave's investors include Moderne Ventures, FasterCapital.
Aerwave is a technology company founded in 2019 that provides next-generation Managed Wi-Fi solutions tailored for multifamily residential communities across the United States[1][2][3][4]. It delivers fast, reliable gigabit-speed internet with a resident-first approach, including 24/7 domestic support, private networks, VLANs for data isolation, and unique encryption to enhance security and everyday living[1][4]. Serving property owners, operators, and residents, Aerwave solves connectivity challenges in multifamily properties by enabling smart homes, self-guided tours, Wi-Fi calling, and real-time insights, while retrofitting existing buildings to boost resident satisfaction and property value[2][4]. The company has raised $20 million in Series A funding, operates in 28+ markets with 60K+ units and 175+ communities, and is trusted by 30% of NMHC owners and managers, demonstrating strong growth momentum[1][2][4].
Headquartered in Dallas, TX (with early mentions in Beltsville, MD), Aerwave's mission is to reimagine connectivity for modern living, with a vision to become North America's most trusted provider for real estate owners and operators[1].
Aerwave was founded in 2019 by Alex Wey, Daniel Jensen, and Daniel Jensen, leveraging over 150 years of combined multifamily experience from its team[1][3]. The founders, drawing from real estate and technology backgrounds, identified the need for a "Digital Foundation" transformation in multifamily housing, where unreliable Wi-Fi hinders resident experience and property operations[2][3]. Early traction came from its resident-centric model, leading to partnerships with industry leaders like JVM Realty, Knightvest Residential, Gables, and JBG Smith[1]. A pivotal moment was securing $20 million in Series A funding in November 2022, solidifying its business model for scalable, network-intelligent connectivity[2].
Aerwave stands out in the multifamily Wi-Fi space through these key features:
Aerwave rides the trend of mission-critical broadband in multifamily housing, where reliable connectivity is essential for resident retention, smart property tech, and operational efficiency amid rising digital demands[1][4]. Timing aligns with the post-2020 surge in remote work, streaming, and IoT, amplified by market forces like NMHC-recognized property managers prioritizing Wi-Fi as a core amenity—30% of whom trust Aerwave[1]. It influences the ecosystem by leading "network intelligence" evolution, enabling Wi-Fi calling norms, self-guided tours, and smart homes, while retrofitting infrastructure boosts property values in a competitive rental market[2][4].
Aerwave is poised for expansion with its $20M funding fueling growth beyond 60K units, targeting more markets and advanced features like AI-driven network optimization[2][4]. Trends like 5G-Wi-Fi convergence, edge computing for multifamily IoT, and sustainability-focused retrofits will shape its path, potentially capturing larger shares of the $10B+ U.S. multifamily tech market. Its influence may evolve from Wi-Fi specialist to full Digital Foundation platform, solidifying trust with owners and reimagining connectivity as North America's go-to for modern multifamily living[1][2].
