$11.2M round to fully fund market growth and expansion
SANTA CLARA, Calif., March 7, 2011 –Samplify Systems, Inc., a leading provider of technology, semiconductors and sub-systems for medical, industrial, wireless, and scientific markets, has completed its Series B round of funding. The $11.2M of capital enables the company to fund its rapid growth in its existing markets, and offers flexibility to expand into new markets. Participating in the round are Integrated Device Technology, Inc. (NASDAQ: IDTI), Charles River Ventures, Formative Ventures and Schlumberger (NYSE: SLB). The company also announced that Ginger Hildebrand, Software Governance Manager for Schlumberger, will take a board position at Samplify.
Tom Sparkman, CEO of Samplify, remarks, “Samplify has experienced tremendous growth over the last year, driven by the success of new products for its core ultrasound and wireless markets. This funding round fully finances growth in the company’s core markets, and gives us the flexibility to take Samplify’s technology into new markets through our strategic partners.”
Bruce Sachs, General Partner of Charles River Ventures, adds, “With this round of funding, we are pleased to see Samplify secure a path to self-sustain its business model for the company’s technology and solutions. For Samplify to be among the very few technology companies to complete a round in this economic climate is a testament to its compelling technology, solutions, market traction, and the strategic value the company brings to its partners.”
“With this investment, we are looking forward to deeper collaboration with Samplify,” comments Ted Tewksbury, CEO of IDT.
Samplify has achieved many milestones in the past year including:
- Introduction of its novel AutoFocus™ beamforming technology for ultrasound applications for which the company was awarded Electronic Design’s prestigious “2010 Best Design” award for medical product. The beamforming technology is available as a complete development kit, making Samplify the only semiconductor company that can demonstrate the image quality of its solutions “out-of-the-box.”
- Introduction of the first ultrasound machines built around the company’s award-winning analog front-end solutions at the China Medical Equipment Fair in Shenyang, China. Samplify’s analog front-end solutions include the SAM1600, the world’s only true 16-channel ADC for ultrasound applications, and the SMM9132 and SMM9133, the only analog-front end signal chain modules in a compact 32 channel SO-DIMM form factor.
- Introduction of its Prism IQ™ signal compression technology which achieves virtually lossless EVM performance at better than 2:1 compression for LTE, WiMAX, TD-SCDMA, and W-CDMA baseband signals within wireless base stations using the Common Public Radio Interface (CPRI) specification, or the Open Base Station Architecture Initiative (OBSAI).
Woodside Capital Partners acted as advisor to Samplify during the fundraising process.
About Samplify Systems:
Samplify is a provider technology, semiconductors, and solutions for the medical imaging, wireless infrastructure, and industrial markets. Headquartered in Santa Clara, CA, Samplify’s signal processing and mixed-signal technology, including its AutoFocus™ beamformer and the SAM1600 family of compressing ADCs, have won multiple industry awards for innovation. Additional information about Samplify’s products can be found at www.samplify.com/ultrasound, and www.samplify.com/wireless.