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Broadview raises $40 million

Broadview Networks announced Monday that it raised $40 million in its sixth round of funding, bringing the communications provider's total equity financing to $235 million. Investors in this round include Baker Capital, ComVentures, New Enterprise Associates, Lightspeed Venture Partners and TIAA-CREF. The recent funding will be used to help integrate the acquisition of Randolph, Mass.-based Networks Plus, a start-up local carrier that Broadview bought last March, its fourth acquisition in less than eight months. New York-based Broadview offers local, long-distance and international phone and data services as well as dial-up and high-speed Internet access using DSL (digital subscriber line) technology. It serves small to medium-sized businesses and residential customers in the northeastern and mid-Atlantic United States.

Broadview Networks announced Monday that it raised $40 million in its sixth round of funding, bringing the communications provider's total equity financing to $235 million. Investors in this round include Baker Capital, ComVentures, New Enterprise Associates, Lightspeed Venture Partners and TIAA-CREF. The recent funding will be used to help integrate the acquisition of Randolph, Mass.-based Networks Plus, a start-up local carrier that Broadview bought last March, its fourth acquisition in less than eight months.

New York-based Broadview offers local, long-distance and international phone and data services as well as dial-up and high-speed Internet access using DSL (digital subscriber line) technology. It serves small to medium-sized businesses and residential customers in the northeastern and mid-Atlantic United States.