ACTON, June 22, WaveSmith Networks, a developer of multiservice switching products for carriers, has secured $31 million in Series B funding led by new investor Fidelity Ventures, with participation from previous investors Atlas Venture, Bessemer Venture Partners, Commonwealth Capital. The new capital will be used to fuel product development and sales and marketing initiatives. In August of 2000, WaveSmith raised $11.5 million of Series A funding from Atlas Venture, Bessemer Venture Partners, and Commonwealth Capital.

BEDFORD, June 25, Incentive Systems, a provider of Enterprise Incentive Management (EIM) solutions, secured $18 million in a fourth round of venture financing led by Thomas Weisel Capital Partners, the lead investor in the company's third round investor. Also participating in the round were previous investors Polaris Venture Partners and BancBoston Ventures. The additional funds will be used to further develop Incentive's EIM technology and services. Founded in 1997, Incentive employs approximately 125 and currently has over 40 customers including Akamai, Analog Devices and Cabletron Systems.

SOUTHBOROUGH, June 25, Storability, Inc. closed $30 million in its second round of funding. Led by Technology Partners and Sprout Group, the round also included an investment from Lee Munder Venture Partners and additional funding by Storability's initial investors Battery Ventures, Madison Dearborn and Lightspeed Venture Partners. Founded in February of 2000, Storability offers customizable and cost-effective storage solutions that can be delivered on-site, off-site, or a combination of both. The new funding will support continued deployment of Storability's automated enterprise storage management delivery system AssurENT.

NEWTON, June 25, Sockeye Networks announced that it has officially launched the company and has received $28 million in first round funding from Baker Capital, Battery Ventures, CSFB Private Equity and Polaris Ventures. Sockeye Networks improves network performance and efficiency by adding intelligence to the management of IP traffic flow. Sockeye Networks gives visibility into the Internet's real-time traffic conditions and proactively suggests optimal paths.

WOBURN, June 28, Surgical Sealants, Inc. (SSI) announced the placement of a private equity financing led by Deutsche Bank and Kimberly Clark Ventures. Wheatley MedTech Partners also participated. Founded in 1997, SSI has developed proprietary medical devices to seal fluid and air leaks in complex surgical procedures. This third round of financing will provide SSI with the funds necessary to complete the clinical trial of its lead product, Thorex, a lung sealant for use in preventing air leaks after tumors are removed from the lung.

MAYNARD, June 28, Inceptor, Inc. secured $3 million in its second round of funding from SI Ventures and affiliates of InCentive Capital Group and Mesco Ltd., all first round participants. The money will be used for ongoing working capital and product development and enhancement. Founded in 1999, Inceptor develops conversion marketing software. The company's flagship product, Excedia, is a conversion-marketing software tool that provides real-time measurement and analysis of all site activity. The company has over 70 clients including: L.L. Bean, 1-800-FLOWERS.COM and the Blue Cross Blue Shield Association.