Tuesday, March 3, 2009
Zayo Group Gets $128M
Louisville, Colorado-based Zayo Group announced today that the firm has closed on its Series B round of equity funding, bring the company's raise to $128M in the round. The firm, which is a provider of fiber-based telecommunications services, said the second close came from Morgan Stanley Alternative Investment Partners (Morgan Stanley AIP). The series B funding was led by Charlesbank Capital Partners, and prior investors Battery Ventures, Centennial Ventures, Columbia Capital, M/C Venture Partners, Morgan Stanley AIP, and Oak Investment Partners also participated in the funding. In addition to the funding, Zayo also discussed its financials, saying that its revenues now are approximately $200M, with EBITDA of approximately $60M; the firm said it expects to be free cash flow positive beginning in Q2.