Truespeed Reports Record Growth In 2022

Truespeed reports record growth in 2022 as we expand our full-fibre network and connect more customers to ultrafast broadband.
February 1, 2023

As a community-focused full-fibre broadband provider, we set a blistering pace of growth over the last 12 months and have our sights firmly set on even greater expansion during 2023.

Truespeed achieved record levels of growth during 2022, by expanding our footprint to 60,000 properties, connecting 13,000 customers, hiring over 80 new employees and supporting several community-focused festivals and initiatives.

In 2022, we built to a further 25,000 new properties taking our total cumulative network to over 60,000 properties passed in North Somerset and the South West. We’re also happy to report a significant increase in connected customers, having reached over 13,000 live customers by the end of 2022. This healthy growth is also reflected in the size of our Truespeed team, which has been boosted with regional talent and new hires from local institutions, crossing 225 employees by the end of 2022.

“2022 was a fantastic year for the business, in terms of setting higher ambitions and increasing the pace of our growth while maintaining high customer satisfaction scores and community engagement across the South West. Our network is growing fast, and our goal is to more than double the number of properties that are ready for service in 2023 and continue investing across the region. To help achieve this, we also plan to take advantage of the first-class talent pool in the South West and will step up hiring.”

James Lowther, Truespeed CEO

Investing in the South West

We’ve invested heavily across the South West in 2022 in several areas including:

  • Portishead and Clevedon: £9m investment
  • Peasedown St John, Midsomer Norton, Keynsham, Saltford, Radstock: £8m investment 
  • Uphill, Banwell, Sandford: £4m investment
  • Thornbury, Almondsbury, Bradley Stoke, Patchway, Stoke Gifford and Chipping Sodbury: £14m investment
  • Bathwick, Widcombe and Combe Down: £4m investment

At Truespeed, we build and own our own network, independent of the ‘household name’ internet providers. The rise of companies like Truespeed in recent years has led to a surge away from the so-called ‘traditional’ large providers because challengers like ourselves offer more reliable broadband at guaranteed faster speeds, with fairer prices and far better levels of customer service. For example, in 2022, most Truespeed customers seeking support were connected to a member of our Bath based customer service team within 60 seconds, a record that we aim to improve further.

Truespeed’s future plans

Looking ahead to 2023, our sights are set even higher: the goal is to more than double the size of our current footprint of 60,000 properties and also double the number of connected customers by end of the year.

While the stats and figures make for happy reading, they’re only part of our story. We want to build a truly better broadband business by putting our customers and communities at the heart of everything we do… by freezing our prices during a cost-of-living crisis, by offering free connections to local schools and community centres and by offering much better customer service. This is our promise to the South West

James Lowther, Truespeed CEO

Since our formation in 2014, Truespeed has always offered a truly better customer experience by delivering faster broadband, better value for money and prompter customer service. As part of our community-focused commitment, Truespeed has connected over 140 schools and community hubs to its full-fibre network to date.