Funding to Drive Company Growth and Expansion Through Acquisition
IRVINE, Calif., July 1, 2004 - TransDimension, a leading provider of USB connectivity solutions for embedded applications, announced that it has completed its Series C and Series D financings raising a total of $18.35 million. San Bruno, Calif.-based VantagePoint Venture Partners led the Series D financing, with participation by iSherpa Capital. The Series C financing was led by GKM Ventures with participation by VantagePoint Venture Partners, iSherpa Capital, Rolling Oaks Capital, and Shelter Capital Partners.
Proceeds from the financing were used in part to acquire the assets of the ARC International Peripheral Connectivity business including the ARC USB and Ethernet IP cores, CertiPHY capability and USB system support and development tools (see TransDimension/ARC announcement, issued at 8:00 AM PST, July 1, 2004). The acquisition will enable TransDimension to expand its wired USB product base by leveraging the ARC USB IP cores and to further develop the company's peripheral connectivity focus into wireless USB used in high-volume consumer electronic devices. In addition, the financing provides TransDimension with expansion capital to introduce new technology to the market and accelerate its international marketing focus.
"The consumer electronics device market continues to grow at a steady pace. TransDimension's strength is in its ability to offer solutions that address the pent up demand for direct connectivity between these devices," said Melissa Crane Guzy, managing director, VantagePoint Venture Partners. "We are pleased to lead this strategic round of funding that enables the company to continue to grow and lead the industry in connectivity solutions."
The funding news comes on the heels of TransDimension's recent announcements that it has shipped its five millionth embedded USB host controller and that it recently secured customer wins with NEC Electronics Corporation and STMicroelectronics. TransDimension also recently announced that it has joined the WiMedia Alliance, an industry alliance focused on Ultra Wideband (UWB) wireless connectivity.
TransDimension's product lines include ICs (semiconductors), USB function blocks for integration into larger system-on-chip solutions and software that provide direct connectivity for a wide range of PC peripheral, consumer and mobile devices that until now have required an indirect means, such as a PC host, to exchange data. These embedded applications include cellular phones, set top boxes, printers, PDAs, digital cameras, portable storage products and CD, DVD and MP3 players.
"This funding is validation that our commitment to USB connectivity for consumer electronics devices is on target," said Rick Goerner, CEO of TransDimension. "The additional capital has enabled our acquisition of ARC's assets, which in turn has expanded our market leading USB software, semiconductor and IP capability with proven, high speed USB cores. I look forward to the assistance of our new and existing investment partners as we continue to develop future business and advance our strategy to wireless connectivity solutions."
About VantagePoint Venture Partners
VantagePoint Venture Partners is one of the nation's most prominent venture firms with more than $2.5 billion in committed capital in four funds. The Firm is an active multi-stage investor providing funding and resources for all stages of a company's lifecycle from seed round through late stage and privately negotiated investments in public companies. VantagePoint is based on a full-service 'Partner-Team' approach that provides entrepreneurs with a blend of technology, venture capital, operations, marketing, and corporate-finance expertise. The Firm is focused on technology investments in the CleanTech, Communications, Healthcare, Semiconductor, and Software and Internet sectors. More information about VantagePoint is available at http://www.vpvp.com.
About Shelter Capital Partners
Los Angeles-based Shelter Capital Partners (http://www.sheltercap.com) is a leading technology investment firm that invests in businesses at all stages of development, with a focus on high value-add investing in companies that have the potential to become industry leaders. Areas of investment focus include wireless and other communication technologies, enterprise application software and semiconductors.
About GKM Ventures
GKM Ventures, with offices in Los Angeles (HQ) and Palo Alto, is a venture capital fund investing $2 million to $4 million in expansion-stage technology companies located in the Western U.S. The primary industry sectors in which the Fund invests include wireless, enabling applications, enterprise and infrastructure software, semiconductor, communications and digital media industries. GKM Ventures is a licensed SBIC. For more information about GKM Ventures, please visit the Fund's website at http://www.gkmventures.com.
About iSherpa Capital
iSherpa Capital is an investor in early stage wireless and supporting technology companies. It offers a proven methodology that combines the traditional venture capital resources with its innovative processes and metrics-focused approach. Located in Denver, Colorado, iSherpa combines an experience-based, execution-focused approach with world-class resources - including strategy, leadership, operations and capital - to guide companies to the summit. iSherpa Capital can be contacted at 303-645-0500 or through their web site at http://www.isherpa.com.
About TransDimension
Headquartered in Irvine, California, TransDimension is a privately held company founded in 1997 to develop and market solutions targeting peripheral connectivity. TransDimension's product lines include the integrated circuits, IP cores and USB software stacks that enable direct connectivity for a wide range of PC peripheral applications and mobile devices. Until now, these products have required an indirect means, such as a PC host, for exchanging data. TransDimension's SoftConnex USB software is a complete software solution for USB, including the broadest OS and CPU platform support and the largest library of peripheral class drivers available. More information about TransDimension can be found at http://www.transdimension.com
