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Stargus Raises Round, Readies Product

The Andover, Mass., startup banks $10.15 million to develop products (due out by year's end) that help cable companies manage their Internet access networks.

September 24, 2001
By boston.internet.com Staff: More stories by this author:

Stargus, an Andover, Mass., startup focused on helping cable companies prevent outages for their Internet customers, has launched with $10.5 million in financing to develop products and expand sales, marketing and business partnerships.

The company's system will provide real-time monitoring and automated management of DOCSIS (Data Over Cable Service Interface Specification) networks. It gives a view of faults, congestion, security, availability and overall performance

And, unlike traditional network management systems, the Stargus system, scheduled to be unveiled by year's end, will generate report data for top-level executives, engineers, product managers, as well as billing, data, and call center operators.

"Today's (multiple system operators) are faced with the difficult challenge of having to lower customer service costs while unlocking new sources of revenue through the introduction of advanced services," said Russell H. Stephens, Stargus president and CEO. "This proves to be nearly impossible when having to cope with the system limitations of their existing networks,"

Privately held Stargus was founded in June 2000 by former cable industry executives, including: William J. O'Brien, vice president and CFO; Robert F. Cruickshank III, co-founder, vice president of business development; Jason K. Schnitzer, co-founder, CTO; Lawrence Derany, vice president of engineering and operations; and Raphael A. Leeman, vice president of marketing.

It has 33 employees and plans to add up to 15 by year's end.

Previously, Stargus received $3.4 million in funding from Pilot House Ventures, YAS Broadband Ventures and individual investors. Pilot House and YAS Broadband also contributed to the second round, as did new investors Castile Ventures, ADC Telecommunications, Still River Fund and Lauder Partners.






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