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New Zealand ‘information findability specialist’ Pingar has completed an $800,000 capital raise with the investment being targeted to help the company accelerate growth.
The close of the capital raise comes as Pingar opens an Auckland office following the appointment of Neil Livingston as CEO last year.
Pingar develops software that improves the findability of information inside documents, aiming to improve migration, audit compliance and market intelligence outcomes.
With partners Datacom and NTT, Pingar’s clients include Auckland Transport, Statistics New Zealand, the Australian Government and City of Hobart and Singapore’s Ministry of Manpower.
Livingston boasts more that 30 years of experience in the technology industry, with senior management roles at companies including Ericsson, Modempak, Provendo Cadmus, Endace, Vend, Teknique, Foodcap.
He is also a current director at Kordia.
Pingar executive chair Mike Riley says the capital raise and appointment of Livingston comes at a pivotal time for the company.
“For the past few years the team at Pingar have been focusing on developing both new products and new markets and we’re confident that the market intelligence sector offers a great new opportunity for Pingar’s technology to provide value to customers and deliver growth for the business.
“Neil brings a wealth of experience and strategic insight to the company and with him leading the team and this investment providing the resources the time is right to push into new markets.”
Pingar has also recently launched a new market intelligence product, Content Insights, that automates the process of searching through documents and data feeds to gain market insights for improved business decisions. Hong Kong Airport is its first customer.
Livingston says Pingar has strong foundations for growth and is ready to expand through new product development.
“[Content Insights] is a potential game changer for large organisations seeking to stay on top of market intelligence amongst an unmanageable flood of information.”
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