OnFiber Communications, which operates metro networks across the U.S, completed a $12 million Series C round of private equity financing. The funding was raised entirely from current investors, including Kleiner Perkins Caufield & Byers, Bear Stearns Merchant Banking and Telesoft Partners. These funds will be used to support the company’s growth strategy through targeted asset acquisitions and network expansion related to the continued deployment of “AdaptiveBuild” custom network infrastructure solutions. http://www.onfiber.com
- OnFiber was founded in December 1999 and has previously announed nearly $134 million from Kleiner Perkins Caufield & Byers, Incepta (affiliate of Bechtel Enterprises), Bear Stearns Merchant Banking, Amerindo Investment Advisors, GE Capital, TeleSoft Partners and others.
- In June 2004, OnFiber Communications acquired a majority of the assets and all customer contracts of C2C Fiber of Massachusetts, a competitive carrier operating in the Boston metropolitan area. The deal included approximately 350 route miles in over 25 cities and towns throughout the Boston area, including the I-495 corridor. Financial terms were not disclosed.
- In August 2003, OnFiber acquired a majority of the network assets and customer contracts of Telseon Inc.