Beacon, which was launched by the Needham communications company Brooktrout , did not release details of its financing round, the firm's first. Judging by the list of backers, it was likely sizable. In addition to an infusion from Brooktrout, Beacon received checks from Bessemer Venture Partners, Charles River Ventures and Columbia Capital. By bringing on new investors, Brooktrout is no longer the controlling shareholder in the maker of communications hardware and software. They are experienced in working with companies developing next generation telecommunications systems and have extensive contacts with service providers who will be Beacon's customers.
Cayman is also in the communications infrastructure space.
The company's products allow for the delivery of broadband services to homes and small offices. Its financing will be used to hire engineers, sales staff and customer service representatives. The round was led by Charles River Ventures, with participation from Anaconda Capital Management and Proxim Inc. , a wireless networking firm. With its financing news, UPromise, a startup building a network of companies that will help users save for college, officially launched. Here's how it works.