NEWS & VIEWS

Global private equity and venture capital news and research

Deutsche Telekom venture capital arm closes $7.5m investment round in Pinger

23 Feb 2012

T-Venture, the venture capital arm of Deutsche Telekom, has closed a $7.5m investment round in free App-based communications provider Pinger.

The US company said it plans to use the cash to fuel international growth following its push into Germany with Pinger DE in 2011. The company’s strategy to build the first free global communications network has made a strong start, with research from comScore placing it among the top five most installed apps on iOS in the US.

T-Ventures investment director Bernhard Gold has joined Pinger’s board of directors as part of the deal. He said, “T-Venture has been impressed with Pinger’s success in the US.

“Our strategic investment is aimed to support Pinger’s international expansion especially to Europe where we’re confident that the company will replicate the success it orchestrated in the United States.”

Previous investors include Kleiner Perkins Caulfield & Byers and DAG Ventures.

T-Venture made a strategic investment in German-based Cost Xpert, which estimates the cost of IT and software projects, last October.

Copyright © 2012 AltAssets

FUNDRAISING & INVESTOR RELATIONS


Legals & Terms of UsePrivacy Policy


AltAssets is registered as a trademark of Investor Networks Limited (06695690).
Registered Office: Zetland House, 5-25 Scrutton St, London EC2A 4HJ
Content is © AltAssets 2000-2014