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Looking to survive the carrier shakeout, Lightship Telecom, a Bedford, N.H., provider of high-speed Internet and other
communications services, has raised $12.7 million in new financing.
JPMorgan Partners, a previous investor, and Megunticook Management, a new backer, led the round, which is expected to sustain the company through
profitability.
The round "validates Lightship's business model, to provide highly-reliable telephony, data and high-speed Internet services over a state-of-the-art, facilities-based
digital switching network throughout the Northeast," said Kevin O'Hare, president and CEO.
In addition to Internet access, Lightship offers local phone service, regional and long distance services, Web hosting, e-mail, conference calling, frame relay, ATM
voice and data services, co-locations and digital virtual private networks.
"We are excited to remain closely involved with one of the pre-eminent communications providers in New England," said Matthew Niehaus, of JPMorgan
Partners.
In addition to its Bedford headquarters, privately held Lightship has offices in Massachusetts, Pennsylvania and Vermont. The company's name comes from the
floating lighthouses that once protected mariners from running aground on New England's rocky shore.
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