Reading , England -- Nexagent, provider of independent multi-carrier interconnect services, said it has raised EUR 15 million ($18 million) in a Series B round of financing.

Apax Partners Funds led the round, which included participation from previous investors Atlas Venture, Benchmark Capital, Quester Capital, and Lago Ventures. Co-founder and president Charles Muirhead said all prior institutional investors returned for this round. He said this financing will take the company well beyond the cashflow positive mark. To date, the company has raised $34 million.

The new funds will be used to launch the company's shared interconnect and monitoring points, for linking carriers' services together.

Mike Grabiner, director at Apax Partners, will join Nexagent's board as a result of the financing.

The Reading, England-based company is rolling out its first commercial network across multiple European carrier networks and has access points in London and Frankfurt , Mr. Muirhead said. He said Nexagent will eventually be in 10 worldwide cities, with the East Coast of the U.S. and Frankfurt , Germany next on the list.

The Nexagent System enables system integrators to provide enterprises with a globally managed and monitored IP network delivering voice, video, and data. Integrators use the Nexagent system to select the best managed IP carrier in each of the enterprise's locations and then interconnect and independently monitor these carriers using shared Nexagent peering points in worldwide cities.

Nexagent was founded in 2000 by Mr. Muirhead and vice president of business development and technology partnerships Chris Gare. Prior to Nexagent, Mr. Muirhead was founder and CEO of Orchestream; Mr. Gare was director of advanced services at Cable & Wireless.

http://www.nexagent.com