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Truespeed reports ‘ultrafast’ growth following successful 2022

The Business Magazine article image for: Truespeed reports ‘ultrafast’ growth following successful 2022
2 February 2023
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Truespeed, the full fibre broadband provider, has its sights firmly set on growth during 2023 after the business set a blistering pace over the last 12 months.

The Bath-based alt-net achieved record levels of growth during 2022, by expanding it’s footprint to 60,000 properties, connecting 13000 customers, hiring over 84 new employees and supporting several community-focused festivals and initiatives.

In 2022, Truespeed built to a further 25,000 new properties taking the total cumulative network to over 60,000 properties passed in North Somerset and the South West.

The business also reported a significant increase in connected customers, reaching over 13,000 customers by end of 2022. This healthy growth is also reflected in the size of the Truespeed team, which has been boosted with regional talent and new hires from local institutions, crossing 225 employees by the end of 2022.

James Lowther, CEO at Truespeed, said:“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 size of our network 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.”

Truespeed has 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

This year Truespeed’s sights are set even higher: the goal is to more than double the size of it’s current footprint of 60,000 properties and also double the number of connected customers by end of the year.


Nicky Godding is editor of The Business Magazine. Before her journalism career, she worked mainly in public relations moving into writing when she was invited to launch Retail Watch, a publication covering retail and real estate across Europe.

After some years of constant travelling, she tucked away her passport and concentrated on business writing, co-founding a successful regional business magazine. She has interviewed some of the UK’s most successful entrepreneurs who have built multi-million-pound businesses and reported on many science and technology firsts.

She reports on the region’s thriving business economy from start-ups, family businesses and multi-million-pound corporations, to the professionals that support their growth and the institutions that educate the next generation of business leaders.

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