On the Radar…

Zayo Group announced the second closing of its Series B round of financing today. Morgan Stanley Alternative Investment Partners joined the round for the second close, which brings the total Series B investment to $128M. Financial details were not provided at the first close, which occurred on February 12 and was led by Charlesbank Capital Partners and included Battery Ventures, Centennial Ventures, Columbia Capital, M/C Venture Partners, and Oak Investment Partners. Zayo, based in Lousville, Colorado, provides bandwidth, voice and managed services over its fiber network which spans 23 states. Zayo’s customers include telecom, wireless providers, ISPs, and web-centric and technology-focused businesses. The company, which previously raised a Series A round of $186M, generated revenues of $200M last year with EBIDTA of $60M. The company expects to reach cash flow positive in the Q2 2009. For further details see the company press release.