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Cygent Inc., a San Francisco startup producing ebusiness software for the whitehot telecom industry, has snared $40 million from investors in its bid to wire telecom's supply chain.
The firm's web-based software that links everything from customer order processing to wholesale and vendor payments comes at a time when lagging telecoms are waking up to the potential of using the Internet to simplify a business fraught with complex products, services and regulations.
"We fix something that everyone believes is broken," said Cygent President and CEO Kevin Elmore. "We consolidate services for communications and make it easy enough that our moms can order."
Cygent's latest round of funding, led by Charter Growth Capital, caps the Elmore $51 million the company has taken in since its founding nearly two years ago, and included investments...