Amalfi Semiconductor Fuels Explosive Growth with $24 Million in Series C Funding
Lead Investor Battery Ventures and Existing Venture Investors DCM, Globespan Capital Partners and Trinity Ventures Participate in New Round of Funding
Los Gatos, CA. August 10, 2009 Amalfi Semiconductor, a developer of high-performance, CMOS Radio Frequency (RF) and mixed-signal semiconductors, today announced that it has received $24 million in Series C funding from four investment firms. The Company is anticipating explosive revenue growth in upcoming months for its advanced CMOS power amplifier products, which offer significant cost, size and power advantages to cellular handset manufacturers. This new investment will fund Amalfi Semiconductors operations to support this growth, as well as allow for expanded product development and marketing efforts
The investment was led by Battery Ventures. Existing venture investors, DCM, Globespan Capital Partners and Trinity Ventures also participated in this third-round funding. Amalfi Semiconductor also today announced that Ken Lawler, Battery Ventures General Partner, has joined Amalfi Semiconductors board of directors.
Over the past few years, we have secured strategic customer relationships with leading cellular handset manufacturers by demonstrating the superior advantages of our CMOS power amplifier technology, said Jim Finch, Founder and CEO of Amalfi Semiconductor. With the introduction of our first product in 2008, we have proven to these manufacturers that our CMOS technology offers them superior front-end system performance over competing GaAs technology. The Battery Ventures, DCM, Globespan Capital Partners and Trinity Ventures investment will allow us to further penetrate the market with new technology that we believe will lead to a paradigm shift to CMOS-based front-end handset solutions as manufacturers look to improve the battery life and reduce the cost of next-generation emerging market handsets and high-end mobile phones.
Weve researched this market and all the emerging players for more than a year, and its clear to us that Amalfi has solved a problem that others have been unable to solve: making CMOS work for the multibillion dollar front-end handset market, said Ken Lawler, General Partner, Battery Ventures. We know these markets well enough to know that CMOS always wins, and the Amalfi team is proving to cellular handset manufacturers worldwide that their CMOS-based power amplifier technology works. The companys market position, technology, design methodology and strong management team put them out in front in a large and growing market and give their customers the edge theyre looking for.
About Amalfi Semiconductor
Amalfi Semiconductor is a fabless semiconductor company specializing in cost effective, low power, mixed-signal CMOS RF solutions for cellular applications. The company has strong financial backing, with funding from private investors and industry leading venture capital companies, which include Battery Ventures, DCM, Globespan Capital Partners, and Trinity Ventures. Amalfi Semiconductor can be contacted at their corporate headquarters in Los Gatos, Calif. at +1-408-399-5360 or at www.amalfi.com.
About Battery Ventures
For 25 years, Battery has been investing in technology and innovation worldwide. The firm partners with entrepreneurs and management teams across technology sectors, geographies and stages of a companys life from start-up and expansion financing to growth equity. Battery has supported many breakthrough companies around the world, including: Akamai Technologies (NASDAQ: AKAM), Airespace (acquired by Cisco), LIFFE (acquired by EuroNext), MetroPCS (NYSE: PCS), Omniture (NASDAQ: OMTR) and Sigmatel (NASDAQ: SGTL). Its current portfolio includes such emerging firms as: Achronix Semiconductor Corporation, Anobit Technologies, MaxLinear, Optichron and ZeroG Wireless. From offices in Boston, Silicon Valley, Israel and India, Battery currently manages more than $3B in committed capital. For more information, visit www.battery.com.
DCM is an early stage venture capital firm supporting entrepreneurs building world-class technology companies. The firms partners manage US$1.6 billion and have funded leading technology companies including 2Wire, 51job (Nasdaq: JOBS), @Motion (Openwave), About.com (The New York Times Co.), All About (Jasdaq: 2454), Arroyo (Cisco), Abound Solar, Clearwire (Nasdaq: CLWR), Dang Dang, eDreams (TA), Foundry Networks (Nasdaq: FDRY), HireRight (acquired by USIS), Internap (Nasdaq: INAP), IPivot (Intel), Jaspersoft, JCI (Nasdaq Japan - Hercules: 9424), Neopath Networks (Cisco), Neutral Tandem (Nasdaq: TNDM), nQuire (Siebel), OPI, PayCycle, PGP Corporation, Recourse Technologies (Symantec), RockYou, Scigineer, Sigmatel (Nasdaq: SGTL), SMIC (NYSE: SMI), Sling Media (EchoStar), Ustream, VanceInfo (NYSE: VIT) and Vimicro (Nasdaq: VIMC). DCM offers hands-on operational guidance and access to an extensive network of resources, including close relationships with many of the Pacific Rims leading companies and investors. For more information, please visit DCMs website at www.dcm.com.
About Globespan Capital Partners
Globespan Capital Partners is a leading global venture capital firm with over $1 Billion under active management. Globespan takes a balanced approach to investing with multi-stage investments in information technology and cleantech companies. Our investment team has a proven track record based on partnering with management teams to build strong, successful companies. We have significant experience and relationships in Asia which allows us to provide our portfolio companies access to global markets. With offices in Boston, Palo Alto and Tokyo, we invest in companies all across the U.S. and in Japan on behalf of a global base of limited partners. More information about Globespan Capital Partners is located online at www.globespancapital.com.
About Trinity Ventures
Trinity Ventures, a 22-year veteran in the venture business with more than $1 billion under management, partners with exceptional entrepreneurs to build great companies. Trinity Ventures focuses on early-stage technology investment opportunities with a particular emphasis on the digital media, Internet services, mobility, security and software markets. Trinity has invested in more than 100 ventures, including such leading companies as Aruba Networks (NASDAQ: ARUN), Blue Nile (NASDAQ: NILE), Crescendo Communications, Extreme Networks (NASDAQ: EXTR), Forte Software, Illustra, LoopNet (NASDAQ: LOOP), Photobucket (acquired by News Corporation: NWS), Speedera Networks (acquired by Akamai Technologies: AKAM), Starbucks (NASDAQ: SBUX) and Sygate Technologies (acquired by Symantec: SYMC). www.trinityventures.com
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