Pannaway Raises $15.6 Million for Convergence Platforms

Pannaway Technologies, a developer of converged broadband voice, video and data platforms, completed a $15.6 million E round of funding from private investors. The company plans to use the funding to move forward with expansion into emerging markets, which include Department of Defense, municipalities, multi-tenant units (MTU), and multi-dwelling units (MDU). Pannaway said its R&D efforts will include new SIP-based calling feature development and enhancements to its Broadband Access Manager for end-to-end ADSL2+ services provisioning. The platform supports both SIP and MGCP.

The new funding led by S. Robert Levine, the company’s principal investor. This latest round brings the Pannaway’s total investment to $56.1 million in private funding.

http://www.pannaway.com

Pannaway’ was founded in April 2002 and is headquartered in Portsmouth, New Hampshire. Many members of the founding management team worked together at Cabletron Systems, Compaq, and Lucent.

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