CosmoCom Gets $15.3 Million in Funding

Hauppauge-based CosmoCom, Inc., said that it has received about $15.3 million in equity funding from Science Applications International Corp. The deal is the fourth equity funding for the company and the largest. The company will use the money to pay for growth in marketing, research and other areas. CosmoCom President, Ari Sonesh said the company plans to double its 60-person employment base in the next six months.

The company also is setting itself up to have an initial public offering. Sonesh said the IPO could take place next year

This news brief appeared in the November 5, 1999 edition of Newsday.