Auckland, May 1 – Information findability specialist Pingar has completed an $800,000 capital raise with the investment being targeted to help the company accelerate growth. Pingar develops software that improves the findability of information inside documents, creating improved migration, audit compliance and market intelligence outcomes.
The successful capital raise comes as Pingar opens an Auckland office following the recent appointment of Neil Livingston as CEO. Neil has more than 30 years’ experience in the technology industry internationally and has held a number of roles at companies, including Ericsson, Vend, Foodcap, Endace, and Provenco Cadmus.
Pingar has also just launched a revolutionary new market intelligence product, Content Insights, with Hong Kong Airport being the first customer. Using a combination of sophisticated Natural Language Processing (NLP), text analytics and customisable taxonomies, Content Insights can crawl, identify and classify vast amounts of information from both public and private sources, allowing businesses to automate the process of searching through hundreds of thousands of documents and data feeds in near real time to gleam market insights, spot trends, drive innovation and make better business decisions, faster.
Hong Kong Airport is using the product to monitor customer perceptions, creating dynamic market intelligence on how it is faring compared to regional competitors.
Pingar Executive Chair Mike Riley says the capital raise comes at an exciting 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.”
Neil Livingston says Pingar has been laying strong foundations for growth and is ready to expand to make the most of the new opportunities its product development is creating. “Our DiscoveryOne product has been warmly received by organisations needing to improve their document management and information findability, but we’ve always known that the core technology was more widely applicable outside of internal document management. Content Insights delivers on that opportunity, enabling businesses to effectively process vastly greater amounts of market intelligence information than they were previously able to do and freeing up Business Intelligence teams to focus on the analysis rather than the collection of information. It’s a potential game changer for large organisations seeking to stay on top of market intelligence amongst an unmanageable flood of information.”