Startup's latest funding round, including J.P. Morgan, Salomon Smith Barney, and Credit Suisse First Boston, brings total raised to $475M

March 1, 2001

1 Min Read

OAK BROOK, Ill. -- Looking Glass Networks, Inc. ( today announced that it has raised an additional $275 million in debt capital to fund its metro optical network build-out plan. This increases Looking Glass’ total capital raised to $475 million including the initial equity round of $200 million from Madison Dearborn Partners, LLC, and Battery Ventures in April of 2000. J.P. Morgan, Salomon Smith Barney and Credit Suisse First Boston, together with Barclays Bank, Merrill Lynch and Deutsche Bank, committed $175 million in senior secured credit facilities. Looking Glass also secured $100 million in vendor financing.

“This additional financing fully funds Looking Glass’ current business plan through profitability,” said Lynn Refer, CEO, Looking Glass Networks. “The capital assures the execution of our plan to build dense fiber count metropolitan networks and provide lit bandwidth, dark fiber and collocation services in the second half of 2001. We will offer carrier and enterprise customers in the largest U.S. markets access to rapidly provisioned, high bandwidth data transport services at low cost.”

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