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Pelago Networks raises $32 million

Pelago Networks, a communications service company, said Monday that it has raised $32 million in new equity and debt financing in a second round of funding, bringing the company's total financing to $50 million. Investors in the second round included Advent International, Charles River Ventures, Columbia Capital, Bessemer Venture Partners and Brooktrout. Pelago, headquartered in Marlborough, Mass., said it plans to use the new funding to support the introduction of new services later this year.

Pelago Networks, a communications service company, said Monday that it has raised $32 million in new equity and debt financing in a second round of funding, bringing the company's total financing to $50 million. Investors in the second round included Advent International, Charles River Ventures, Columbia Capital, Bessemer Venture Partners and Brooktrout. Pelago, headquartered in Marlborough, Mass., said it plans to use the new funding to support the introduction of new services later this year.