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Tuesday, August 3, 2010

Telecom startup Beaumaris slips in $9M in VC financing

By Galen Moore


Stealthy Beaumaris Networks Inc. has pulled in another $9 million in venture capital, according to documents filed with the U.S. Securities and Exchange Commission today.  New investor Comcast Interactive Capital, the venture affiliate of telecom service provider Comcast Corp. (Nasdaq: CMCSA), joined existing investor Charles River Ventures in the round, which adds onto at least $5.3 million that CRV put into the company last June. The $9 million equity financing is part of a planned $10 million round, the SEC document states.

Beaumaris is officially in “stealth mode,” according to its website, which describes the company simply as, “dedicated to solving crucial problems for video service providers and their business partners.”

According to the website, the company is operating a research and development facility in China and is hiring in Boston and Philadelphia for three engineering positions and a quality assurance director. CEO Conrad Clemson was formerly an entrepreneur in residence at CRV, and prior to that was senior director of engineering at Motorola Inc. (NYSE: MOT).

Beaumaris officials could not immediately be reached for comment.

With Comcast Interactive Capital’s investment, senior managing director Louis Toth joins Beaumaris’ board, where partner Bruce Sachs represents Charles River Ventures. Toth was on vacation and could not be reached, but a Comcast Interactive Capital employee confirmed the investment.

 

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