Seranoa Networks, a Concord, Mass., start-up building an IP edge concentrator, last week announced it has raised $15.75 million in first-round funding from St. Paul Ventures, YankeeTek Ventures, Advent International, FA Technology Ventures, SchoffstallSeranoa Networks, a start-up building an IP edge concentrator, last week announced it has raised $15.75 million in first-round funding.The company says it has seven beta-test customers; most are "revenue generating." The company says the funds are being used to bring the product to market, most likely in December.Service providers proved to be more upbeat about the future in September than they have been all year, according to a report from Sage Research. Sage has measured and analyzed the mood of roughly 100 service providers every two months since January and saw an upswing in their mood for the first time this year.Expectations for the industry rose 15% since the previous survey, Sage says. However, service providers say they still view current conditions as unfavorable. The Service Provider Confidence Index is available via free subscription at www.sageresearch.com\/SPCIForm.htm.