Ping Communication Secures NOK22M in Funding

Ping Communication AS, an Oslo, Norway-based provider of high end broadband internet access devices and software, has secured NOK22m in new funding.

Investors include Investinor AS, which committed NOK10m for a 26.3% share of the company, Alliance Venture Polaris and Tiger Holding AS (owned by PingCom’s founder Erik Syverinsen).

In conjunction with the operation, Mr Jan Hassel, Investment Director at Investinor, has joined the company's board of directors.

PingCom provides broadband routers that enable users to improve the quality of their online activities including gaming, voice services and video downloads.

The company works directly with ISP and VoIP operators, distributors and major resellers.

FinSMEs

02/09/2010

bMenu Raises NOK16.2M in Venture Capital Funding

bMenu AS, an Oslo, Norway-based provider of software, called bMobilized, that automatically converts existing websites to user friendly websites for mobile phones, has raised NOK16.2m in venture capital funding.

Investors include Investinor, which committed NOK7.35m for a 14.6% share of the company, existing shareholder Alliance Venture, founders and staff.

In addition to bMobilized, bMenu offers a wide range of customization services.

The capital infusion will enable the company to expand in the US market (by fall 2010), where it operates an office in New York, and other markets (during 2011). In conjunction with the operation, Jan Hassel, Investment Director at Investinor, will join bMenu’s board of directors.

The company was founded in 2005 by Mr Bjørn Holte, current CEO. Commenting on the investment, he said: "bMobilized hits the largest and fastest growing market on the Internet. 

"There are 75 million active websites globally, they all will need a mobile presence and bMobilized is the easiest solution for creating mobile websites". 

FinSMEs

02/09/2010

Apsis Receives Equity Investment from Norvestor

Apsis Sweden AB, a Malmö, Sweden-based supplier of software-as-a-service solutions for permission based mass distribution of newsletters, has received an equity investment from Norvestor.

Founded in 2001, the company provides its flagship product, Apsis Newsletter Pro, to over 5,000 customers in 40 countries. It also offers web survey services.

Apsis, which operates offices in six countries, has a market leading position in the Nordic region, and growing operations in continental Europe and in Asia.

Norvestor V, L.P., advised by Norvestor Equity AS, will become the largest shareholder in the company. Anders Frankel, CEO, and the management team of Apsis will continue to hold approximately 27% of the shares in the company.

In conjunction with the transaction, which is expected to close in September 2010, Henning Vold, Partner in Norvestor Equity AS, has joined Apsis as new Chairman.

FinSMEs

02/09/2010

Inflection Raises $30M in Series A Financing

Inflection, LLC, a Palo Alto, Ca-based data and e-commerce company, has raised $30m in Series A financing.

The investment was led by Matrix Partners and Sutter Hill Ventures.

Inflection will use the funds to expand its team based in its downtown Palo Alto location and its member services center in Omaha, NE., invest in technology, and acquire customers. The company is hiring for engineers, designers, marketers, and product developers.

Founded in 2006 by brothers Brian and Matthew Monahan, Inflection aggregates public records and data from past and present, turning results into useable, actionable information.

It currently operates two brands including Archives.com, designed to make family history simple, and PeopleSmart.com, a privacy-friendly people search engine.

In conjunction with the funding, Greg Sands, managing director, Sutter Hill Ventures, will join the company's board of directors.

FinSMEs

02/09/2010

Opanga Networks Completes Series A Financing Round

Opanga Networks, a Seattle, WA-based provider of pragmatic video optimization solutions, completed a Series A financing round.

This latest round, which was led by Axtel S.A.B. de C.V, a publicly-traded telecommunications company, with participation from Opanga's existing investors, brings the total investment in the company tp US$5.5m.

The new capital will support the company in expandind its operations and further funding the development of its NetRover™ suite of patented solutions, which help operators manage the massive growth of video-based data traffic on their networks.

In conjunction with the financing round, Iván Alonso Hernandez, executive director of Innovation and Technology at Axtel, has joined Opanga's board of directors. He joins C. James Judson, founding president and a former board member of Nextel International, Ed Salley, former executive with AT&T, AT&T Wireless, NorthStar Communications Group, and PRTM Management Consultant, and Dave Gibbons, CEO and co-founder of Opanga.

Advisory board members include Bill Owens, managing director of AEA Investors and former vice chair of the Joint Chiefs of Staff; Larry Seifert, former executive vice president of AT&T Wireless Services, and Arlen Prentice, chairman and CEO of Kibble & Prentice.

The company operates engineering teams in Redmond, WA and Monterrey, Mexico.

FinSMEs

02/09/2010

Allmyapps Completes €1m Series A Financing Round

Allmyapps, a Roubaix, France-based operator of an application store for Windows, completed a €1m Series A round of financing.

The investment was led by Elaia Partners. In addition, the company will receive support from the Microsoft IDEES program, an initiative dedicated to nurturing innovation in high-potential technology startups.

Created in June 2009 by Thibauld Favre and Arnaud Coulondre, Allmyapps operates a free website, allmyapps.com, that enables end-users to discover new applications and install and manage them.

The proceeds from the investment will help the company accelerate the development of the application store and to fund its international expansion.

FinSMEs

02/09/2010