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Cary's Bandwidth raises $22 million from Charlotte's Carmichael

A Cary telecom company run by an endurance athlete has raised $22 million in financing from an investment group with strong Tar Heel ties.

The money marks the first time Bandwidth.com, founded in 1999 by CEO David Morken, has taken private funding.

It's also the first investment made by Carmichael Partners, a Charlotte firm founded last year by UNC Chapel Hill alumni Brian Bailey and Kevin Martin.

Bailey's background is in private equity. Martin is a lawyer and former chairman of the Federal Communications Commission. The two have been friends for more than 25 years, and were back-to-back student body presidents at UNC in the late 1980s.

"We're not focused exclusively on North Carolina companies, but it is great to help build a company in our home state," Bailey said.

Four tech CEOs compete for your vote

A few days after throwing a bash at iContact's Durham headquarters for about 500 employees and guests, co-founder and CEO Ryan Allis needs your vote.

The N.C. Technology Association announced today that he's one of four finalists for the trade group's 2010 Tech Executive of the year. The other finalists include David Jones, co-founder and CEO of Charlotte's Peak 10; David Morken, co-founder and CEO of Cary's Bandwidth.com; and Mark Munday, president and CEO of Raleigh's Elster Solutions.

The winner will be chosen by popular vote and NCTA will accept votes through Oct. 15 online here.

It's not clear whether Allis was hoping iContact's big party on Friday, which included free barbecue, blue grass band, bouncy slide and more, might help him win a few extra votes.

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