Pannaway lands $15.6 million
Pannaway Technologies completed a $15.6 million E round of funding from private investors, led by S. Robert Levine, the company’s principle investor, bringing the total private investment funding to $56.1 million.
Pannaway, based in Portsmouth, N.H., will distribute the funds across the company, expanding on research and development for its Service Convergence Network platform, service and support organizations and programs, and its footprint in emerging markets, including the U.S. Department of Justice, municipalities, and multi-tenant and multi-dwelling units.
Investment in its R&D effort will also remain a priority to ensure it stays current in technological developments, the company said. Particular areas of R&D interest include new SIP-based calling feature development and enhancements for its Broadband Access Manager to allow end-to-end ADSL2+ services provisioning. Pannaway recently coupled with SMS Data Products Group Inc. to support the expansion of its existing product solution into emerging markets.
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