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.