Cuckoo Internet, which is aiming to be anĀ insurgentĀ startup in the broadband provider space in the UK, has closed a $6 million investment round led by RTP Global, along with participation from JamJar Investments. It will also launch on price-comparison site uSwitch.
RTP Global was an early backer of Yandex, Delivery Hero, and Datadog. JamJar has backed Bulb, Deliveroo, Tails and Oatly. Other individual investors in the round included former executives of Monzo and Stripe,
Cuckooās pitch is that it has a simple broadband offering, suppling a single 67 Mb/s fibre deal on a monthly rolling contract with āno hidden feesā it says.
In a statement Alexander Fitzgerald, Founder and CEO at Cuckoo, said: āThe broadband market is broken and consumers are being ripped off every day. The importance of fast, reliable and affordable broadband has come into sharper focus with millions of people working from home over the past year. Weāre excited that this funding will enable us to help tens of thousands of people across the country make their broadband simple, for good.ā
Gareth Jefferies, Partner at RTP Global, said: āConsumer broadband is one of the largest markets yet one of the most poorly served. Consumers are fatiguing of customer-hostile pricing practices, inflexible contracts and deliberately awful customer service, and just as we have seen in insurance, energy and banking, we will see a number of challenger providers come in to eat incumbentsā lunch with differentiated product packagings and a fresh respect for their customers.ā
