Eco-Site Inc., which operates cell phone towers, has raised an additional $90 million in capital, according to a company press release.

The new funding comes in the form of a $30 million in private equity investment from Atlanta-based MSouth Equity partners and a $60 million credit facility from a Chicago-based asset manager.

This funding installment brings the capital raised by the company to $190 million, among the largest amount in the triangle.

The company, which was founded in 2012, raised $20 million in September 2017 from MSouth.

The latest funding will be used to fuel continued growth, and capitalize on drive to 5G and IoT initiatives.

Eco-Site owns and operates hundreds of tower sites across the U.S. for T-Mobile, Verizon, Sprint and AT&T.

“With demand for wireless capacity increasing dramatically, Eco-Site is well-positioned to continue recent momentum and make an even bigger impact in this space,” says Barry Boniface of MSouth Equity Partners, in a statement. “Their exceptional growth rate and strong execution validate our trust in the team and their approach, and we look forward to supporting the next chapter in the Eco-Site story.”

Eco-Site CEO Dale Carey credits the company’s success to a culture characterized by constant self-assessment and improvement, and staff with deep experience at both wireless carriers and tower companies.

“As 5G standards gain approval, the industry will begin a technology shift with decades-long effects for wireless network capabilities,” says Carey in a statement. “The strength of our approach, coupled with this latest round of funding, positions us well to capitalize on our platform to drive our next phase of growth.”

Prior to founding Eco-Site, Carey was president and COO of Shared Access, a wireless tower operator in the United Kingdom and Ireland.

He also served as president of US Wireless for SpectraSite Communications Inc., where he held full profit and loss responsibility for $365 million in annual revenue and a $225-million EBITDA division, encompassing 8,000 towers and 20,000 rooftops.