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Tech Industry

New Edge nets $40 million, credit line

National broadband provider New Edge Networks received a $40 million fourth round of funding from GS Capital Partners III, Crosspoint Venture Partners, Greylock and Accel Partners. In addition, First Union National Bank provided a term loan and credit line of $37.5 million. Vancouver, Wash.-based New Edge Networks plans to use the money to complete the expansion of its network. To date, New Edge has raised $380.1 million, including this funding.

National broadband provider New Edge Networks received a $40 million fourth round of funding from GS Capital Partners III, Crosspoint Venture Partners, Greylock and Accel Partners. In addition, First Union National Bank provided a term loan and credit line of $37.5 million. Vancouver, Wash.-based New Edge Networks plans to use the money to complete the expansion of its network. To date, New Edge has raised $380.1 million, including this funding.