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Flamenco scoops up $7.4 million

Flamenco Networks announced Monday that it raised $7.4 million in a second round of funding. The round was led by new investor Flagship Ventures in addition to original investors Noro-Moseley Partners and Cordova Ventures. The company, which has now raised a total of $14 million, will use the money for product development, business development and marketing.

Flamenco Networks' product, the Flamenco Network, is available as a hosted service or under license. The software, which is based on peer-to-peer architecture, performs a range of functions from authentication and security to managing Web services connections between companies.