American Fiber Systems Inc., a metropolitan fiber-optic broadband service provider, has completed a $25 million round of financing.
The privately held company said it has earmarked the money to expand services, erase $6 million in debt and plan for acquisitions.
The financing came from Comerica Bank.
AFS is growing revenues rapidly and we found ourselves in 2005 unable to meet organic demand due to capital constraints, said Gita Ramachandran, CFO of American Fiber Systems. This financing serves as an important building block, enabling us to scale our capacity, continue with our provisioning of 100 percent network reliability of protected service solutions within our expanding customer base.
American Fiber Systems www.AmericanFiberSystems.com