Funding round for the broadband services provider was led by Tyco Ventures

December 18, 2000

1 Min Read

PALO ALTO, Calif. -- Urban Media Communications Corporation (UrbanMedia), the industry's premier provider of broadband business services for small- and medium-sized enterprises, today announced that it has raised an additional $57 million in equity capital, bringing the company's total amount of financing in 2000 to over $115 million. The round was led by Tyco Ventures and includes existing investors Accel Partners, Comdisco Ventures, SOFTBANK Venture Capital and Western Technology Investment. The financing will be used to further strengthen UrbanMedia's presence in key markets, giving thousands of additional small- and medium-sized businesses easy access to UrbanMedia's carrier-class voice and data services, as well as its UrbanCenterTM e-business desktop.

"The quality of our investors, combined with the level of capital we have raised in current market conditions, clearly signifies the industry's support for our fully-funded business model," said Sean Doherty, President and CEO of UrbanMedia.


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