City Signal Communications Closes $17 M Equity Round

MALVERN, Penn., March 7 -- City Signal Communications (CSC), which delivers flexible metropolitan dark fiber networks in US mid-Atlantic and midwest markets, announced it has closed a $17 million third-round equity investment, led by MC Venture Partners and including additional investment by BB&T Capital Partners.

CSC said it will use the funds to complete construction of its networks in Philadelphia, Cleveland and Columbus, to further expand its staff and for general corporate expenses.

As a result of this round of financing, Gillis Cashman, associate of MC Venture Partners, has joined James Wade, managing partner of MC Venture Partners, on CSC's board of directors.

"CSC has become an important supplier in the metro dark fiber space because of its ability to offer an affordable, flexible and dependable dark fiber solution with the ability to grow with demand," said Wade. "While many suppliers have entered this space providing niche solutions to niche problems, CSC has instead focused on pushing the edge of their multiring networks deep into the central business districts and suburban office parks."