Speakeasy toasts $24 million in financing

By Jim Hu
Staff Writer, CNET News

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Broadband Internet service Speakeasy on Tuesday said it landed $24 million in series D financing, its largest amount to date. The investment was led by venture capital firms 3i and BV Capital.

Seattle-based Speakeasy will use the funds to complete its network expansion, grow its presence in top markets, and develop new products such as a Net phone service. Speakeasy also plans to beef up its access services for online gamers and will introduce new products and services for the market. The company said it reached profitability in 2003 and surpassed $50 million in sales. Speakeasy provides broadband access to homes and businesses.

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