PingThings Picks Up Funding

San Juan Capistrano-based PingThings, a developer of predictive intelligence software for the electric utility industry, has scored a round of funding. The funding came from GE Ventures and Frost Data Capital. Size of the funding was not announced. PingThings said the funding will go towards initial deployment of its product at major U.S. utilities, plus an expansion of its sales team. PingThings is led by Rich Sootkoos, and came out of the Frost I3 Industrial internet incubator.