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Pannaway Technology Nets $10M in New Funding

Monday, November 13, 2006 7:30:00 AM PDT | VentureDeal Staff

PORTSMOUTH, NH -- Pannaway Technologies announced that it has received $10 million in expansion round funding.  The company makes network routers, switches, gateways and software for the telecommunications industry.

Funding was provided by a  syndicate of over 30 private investors, which included former New Hampshire Governor Craig Benson and Cabletron Systems founder Robert Levine.

The company plans to use the proceeds to fund sales and marketing expansion as well as continued development of their product lines.

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