<SEC-DOCUMENT>0001193125-17-322096.txt : 20171211
<SEC-HEADER>0001193125-17-322096.hdr.sgml : 20171211
<ACCEPTANCE-DATETIME>20171027080632
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001193125-17-322096
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20171027

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Bandwidth Inc.
		CENTRAL INDEX KEY:			0001514416
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-PREPACKAGED SOFTWARE [7372]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		900 MAIN CAMPUS DRIVE
		CITY:			RALEIGH
		STATE:			NC
		ZIP:			27606
		BUSINESS PHONE:		919-439-4171

	MAIL ADDRESS:	
		STREET 1:		900 MAIN CAMPUS DRIVE
		CITY:			RALEIGH
		STATE:			NC
		ZIP:			27606

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Bandwidth.com, Inc.
		DATE OF NAME CHANGE:	20110303
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
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<HTML><HEAD>
<TITLE>CORRESP</TITLE>
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<IMG SRC="g416018page001aaa.jpg" ALT="LOGO">
</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">53rd at Third</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">885 Third Avenue</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">New York, New York 10022-4834</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Tel: +1.212.906.1200 Fax:
+1.212.751.4864</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">www.lw.com</P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">FIRM / AFFILIATE OFFICES</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Barcelona</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Moscow</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Beijing</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Munich</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Boston</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">New York</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Brussels</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Orange County</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">October&nbsp;27, 2017</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Century City</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Paris</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Chicago</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Riyadh</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Dubai</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Rome</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">D&uuml;sseldorf</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">San Diego</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Frankfurt</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">San Francisco</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Hamburg</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Seoul</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Hong Kong</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Shanghai</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Houston</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Silicon Valley</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">London</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Los Angeles</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Madrid</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Milan</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Singapore</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Tokyo</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Washington,&nbsp;D.C.</P></TD></TR></TABLE>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I><U>VIA EDGAR AND HAND DELIVERY </U></I></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Barbara C.
Jacobs </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Assistant Director </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Office of Information
Technologies and Services </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">United States Securities and Exchange Commission </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">100 F Street, N.E. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Washington, D.C. 20549 </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>Re:</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Bandwidth Inc. </B></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>&nbsp;&nbsp;</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Amendment No.&nbsp;1 to Registration Statement on Form <FONT STYLE="white-space:nowrap">S-1</FONT> </B></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>&nbsp;&nbsp;</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Filed October&nbsp;13, 2017 </B></TD></TR></TABLE>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>&nbsp;&nbsp;</B></TD>
<TD ALIGN="left" VALIGN="top"><B>File No.: <FONT STYLE="white-space:nowrap">333-220945</FONT> </B></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear Ms.&nbsp;Jacobs: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On behalf of our client, Bandwidth Inc., a Delaware corporation (the &#147;<B><I>Company</I></B>&#148;), and pursuant to the applicable
provisions of the Securities Act of 1933, as amended (the &#147;<B><I>Securities Act</I></B>&#148;), and the rules promulgated thereunder, please find enclosed for submission to the Securities and Exchange Commission (the
&#147;<B><I>Commission</I></B>&#148;) a complete copy of Amendment No.&nbsp;2 (&#147;<B><I>Amendment No.</I></B><B><I></I></B><B><I>&nbsp;2</I></B>&#148;) to the above-captioned Amendment No.&nbsp;1 to Registration Statement on Form <FONT
STYLE="white-space:nowrap">S-1</FONT> of the Company submitted to the Commission on October&nbsp;23, 2017 (the &#147;<B><I>Amendment No.</I></B><B><I></I></B><B><I>&nbsp;1</I></B>&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">For your convenience, we are also providing copies of Amendment No.&nbsp;2, marked to show changes against Amendment No.&nbsp;1, in the
traditional <FONT STYLE="white-space:nowrap">non-EDGAR</FONT> format to each of Joyce Sweeney, Kathleen Collins, Jeff Kauten and you. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The
numbered paragraphs in italics below set forth the comments from the staff of the Commission (the &#147;<B><I>Staff</I></B>&#148;) together with the Company&#146;s response. Unless otherwise indicated, capitalized terms used herein have the meanings
assigned to them in Amendment No.&nbsp;1. All references to page numbers and captions (other than those in the Staff&#146;s comments) correspond to the page numbers and captions in Amendment No.&nbsp;2. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>October 27, 2017 </B></P>
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 2
 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt;margin-bottom:0pt">


<IMG SRC="g416018g0921223828594.jpg" ALT="LOGO">
 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>The Offering, page 9 </U></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top"><I>You state in response to prior comment 1 that the Series A preferred stock will convert to 2.5 shares of Old Class</I><I></I><I>&nbsp;A common stock prior to the effectiveness of your Second Amended and Restated
Certificate of Incorporation. However, your disclosures on page 48 indicate that you &#147;expect&#148; this event to happen. Please clarify whether your preferred shareholders have formally agreed to convert their holdings to
Class</I><I></I><I>&nbsp;A common stock. Also, if the preferred shareholders do not convert to Old Class</I><I></I><I>&nbsp;A common stock, tell us how that impacts the terms of your Second Amended and Restated Certificate of Incorporation.</I>
</TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><I>Response: </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company notes the Staff&#146;s comment and has revised the disclosure on pages 10 and 49 of Amendment No.&nbsp;2 to state
that Carmichael Investment Partners LLC (&#147;Carmichael&#148;), the holder of our Series A preferred stock, will convert the Series A preferred stock to Old Class&nbsp;A common stock. Carmichael will either be required to convert pursuant to the
terms of Series A preferred stock upon an initial public offering meeting a specified price per share or will voluntarily convert prior to the pricing of the offering. The Series A preferred stock will no longer exist prior to the effectiveness of
the Second Amended and Restated Certificate of Incorporation. If Carmichael does not convert to Old Class&nbsp;A common stock, the offering will not occur without a prior amendment to the Company&#146;s Registration Statement. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">2.</TD>
<TD ALIGN="left" VALIGN="top"><I>We have reviewed your response to prior comments 1 and 2. Please tell us the basis for your statement that you expect Carmichael Investment Partners LLC to distribute the Class</I><I></I><I>&nbsp;B common stock to
its limited partners. Tell us whether there are agreements in place that ensure this will happen. If not, please clarify your disclosures that you expect a sufficient number of shares of Class</I><I></I><I>&nbsp;B common stock will be converted into
Class</I><I></I><I>&nbsp;A common stock in order for you to become a controlled company.</I> </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><I>Response: </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company notes the Staff&#146;s comment and advises the Staff that based on the Company&#146;s understanding of the
investment relationship between Carmichael and its limited partners, the Company understands that Carmichael will be distributing its Class&nbsp;B common stock to its limited partners, and at such time, the Class&nbsp;B common stock will convert
into Class&nbsp;A common stock by virtue of this transfer. However, the Company does not have the ability to review Carmichael&#146;s investment agreement to confirm that this distribution must occur. In addition, the Company has revised the
disclosure on the cover page and on pages 11 and 50 to clarify the expectations regarding conversion of Class&nbsp;B common stock to Class&nbsp;A common stock, including the potential for an insufficient number of conversions to occur and/or the
timelines for such conversions. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>October 27, 2017 </B></P>
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 3
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<IMG SRC="g416018g0921223828594.jpg" ALT="LOGO">
 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">3.</TD>
<TD ALIGN="left" VALIGN="top"><I>Further, it appears that a substantial percentage of the Class</I><I></I><I>&nbsp;B common stock is held by holders who are subject to lockup agreements that prevent them from converting their shares of
Class</I><I></I><I>&nbsp;B common stock to Class</I><I></I><I>&nbsp;A common stock. Please tell us the basis for your statement that you expect Mr.</I><I></I><I>&nbsp;Morken to become your controlling shareholder in light of these limitations. </I>
</TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><I>Response: </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company notes the Staff&#146;s comment and advises the Staff that although certain of the holders of Class&nbsp;B common
stock will be entering into a Conversion <FONT STYLE="white-space:nowrap">Lock-up</FONT> Agreement, such <FONT STYLE="white-space:nowrap">lock-up</FONT> only applies to a percentage of such holders&#146; Class&nbsp;B common stock. The balance of
such holders&#146; Class&nbsp;B common stock may be converted. Although there is no contractual obligation to convert, the Company believes that a substantial percentage of such holders of Class&nbsp;B common stock will convert their Class&nbsp;B
common stock to Class&nbsp;A common stock or otherwise dispose of their Class&nbsp;B common stock. However, there can be no assurance that the Company will become a controlled company under the corporate governance rules for NASDAQ-listed companies
or, if it does, on what timeline that will occur. Additionally, the Company advises the Staff that it has revised the disclosure on the cover page and pages 10, 11, 49 and 50 of Amendment No.&nbsp;2 to further clarify the possible conversion from
Class&nbsp;B common stock to Class&nbsp;A common stock. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">4.</TD>
<TD ALIGN="left" VALIGN="top"><I>You state that the holders of the Class</I><I></I><I>&nbsp;B common stock are not required to convert their shares of Class</I><I></I><I>&nbsp;B common stock to Class</I><I></I><I>&nbsp;A common stock. Please add
disclosure to the cover page that these holders are not required to convert their shares of Class</I><I></I><I>&nbsp;B common stock to Class</I><I></I><I>&nbsp;A common stock and there can be no assurance that they will convert their shares or
advise. </I> </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><I>Response: </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company notes the Staff&#146;s comment and has revised the disclosure on the cover page of Amendment No.&nbsp;2. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Management&#146;s Discussion and Analysis of Financial Condition and Results of Operations </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Key Performance Indicators, page 64 </U></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><I></I>5.<I></I></TD>
<TD ALIGN="left" VALIGN="top"><I>In your response to prior comment 5 you state that the company&#146;s Chief Operating Decision Maker assesses performance primarily based on revenue and gross profit rather than usage metrics when reviewing the
company&#146;s operating performance or making business decisions. Please clarify for us whether management uses usage metrics in managing the business. If so, tell us why you believe usage metrics would not be key indicators of the company&#146;s
operating performance considering the majority of your CPaaS revenues are based on usage. Refer to Item 303(a)(3) of Regulation <FONT STYLE="white-space:nowrap">S-K</FONT> and Section III.B.1 of SEC Release
<FONT STYLE="white-space:nowrap">No.&nbsp;33-8350.</FONT> </I></TD></TR></TABLE>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>October 27, 2017 </B></P>
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 4
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<IMG SRC="g416018g0921223828594.jpg" ALT="LOGO">
 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><I>Response: </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company notes the Staff&#146;s comment and advises the Staff that management does not rely on usage metrics in managing
the business. The intent of including usage metrics in the Registration Statement is only to illustrate the size and scale of the Company&#146;s business at a given point in time. The Company has added a clarifying footnote to the front cover art of
Amendment No.&nbsp;2. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We hope that the foregoing has been responsive to the Staff&#146;s comments and look forward to resolving any
outstanding issues as quickly as possible. Please do not hesitate to contact me at (212) <FONT STYLE="white-space:nowrap">906-1311</FONT> or my colleague, Shagufa Hossain, at (202) <FONT STYLE="white-space:nowrap">637-2323</FONT> with any questions
or further comments you may have regarding this submission or if you wish to discuss any of the Company&#146;s responses. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:54%; text-indent:-2%; font-size:10pt; font-family:Times New Roman">Sincerely, </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:54%; text-indent:-2%; font-size:10pt; font-family:Times New Roman">/s/ Michael Benjamin </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:54%; text-indent:-2%; font-size:10pt; font-family:Times New Roman">Michael Benjamin </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:54%; text-indent:-2%; font-size:10pt; font-family:Times New Roman">of LATHAM&nbsp;&amp; WATKINS LLP </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Enclosures </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">cc: </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">David A. Morken, Bandwidth Inc. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">John C. Murdock, Bandwidth Inc.
</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Jeff Hoffman, Bandwidth Inc. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">W. Christopher Matton,
Bandwidth Inc. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">John Chory, Latham&nbsp;&amp; Watkins LLP </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Shagufa Hossain, Latham&nbsp;&amp; Watkins LLP </P>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
