proteanTecs Announces Market and Regional Expansions

Opens New Automotive Division and Expands Global Footprint with New APAC Office

HAIFA, Israel, Oct. 7, 2020 - proteanTecs, a leading developer of Deep Data solutions for electronics' health & performance monitoring, is expanding its market reach with new business segment and geographical presence. In line with the recent announcement of their Growth Equity Round, the company is further developing their Automotive business and opening a new office in Asia-Pacific (APAC) to meet rapidly increasing market demand.

Industry veteran Gal Carmel will be joining the company as EVP, GM Automotive to drive value and long-term growth. Mr. Carmel previously served as Chief Technology and Production Engineering of Samsung Smart Machines, building from the ground-up Samsung's ADAS/AV technology, focusing on full-stack platforms for automated driving systems. Prior to that, he held key roles in some of the most innovative pillars of autonomous driving at Mobileye (acquired by Intel), a leading supplier of Advanced Driver Assist Systems (ADAS).

"As cars become smarter, connected and the autonomy performance envelope increases," commented Mr. Carmel, "the content of electronics is increasing dramatically. In order to ensure the stringent safety and reliability requirements of critical functions, given the complexity of highly advanced systems, the industry needs much deeper visibility. proteanTecs is leading a transformative approach to provide predictive fault detection and fleet management tools, based on chip telemetry. I have no doubt this is the future of scale in automotive and I am looking forward to matching proteanTecs solutions with the needs of Tier 1 suppliers and OEMs."

proteanTecs today serves some of the largest and most technologically advanced electronics companies across many industries, including Datacenter, Cloud Computing, Artificial Intelligence and Communications. "The additional investment in Automotive is a strategic development for the company", stated Shai Cohen, CEO. "The sector currently accounts for 9% of global semiconductor revenue with electric cars set to take a global market share of 30% by 2030, and this percentage will only increase with time. Automotive electronics are in the midst of the next wave of innovation, and with the recent funding we are strongly positioned to deliver maximum value in this high-growth market."

proteanTecs also announced further expansion with investment in the APAC region, opening an office in Hsinchu, Taiwan to provide local support to customers and increase strategic activities with key ecosystem partners across the semiconductor and electronics industries.

Joining the company to lead the regional expansion is Mrs. Vivian Chou as Regional Director, Greater China. With 15 years of Sales and Executive Account Management experience in the semiconductor industry, Mrs. Chou brings vast business and technological expertise. Combining market strategy with deep ecosystem understanding, she has built successful business partnerships for some of the leading brands in the industry, including ANSYS and Synopsys.

Keith Morton, EVP Worldwide Sales, said: "APAC is a fast-growing region for us, and we are fortunate to be expanding our footprint in this environment. With a local team in Taiwan, we will be able to offer an enhanced customer experience in the Greater China area. We look forward to providing localized support, partnering more closely, and deploying the most suitable resources proteanTecs has to offer."

The company was founded in 2017 with headquarters in Israel and has since grown to include offices in two U.S. locations —San Francisco and New Jersey; and four international locations – Haifa, Israel, Tel-Aviv, Israel, Munich, Germany and the newly-opened office in Hsinchu, Taiwan.

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About proteanTecs

proteanTecs develops revolutionary Universal Chip Telemetry™ for electronic systems throughout their entire lifecycle, increasing their performance and reliability. By applying machine learning to novel data created by on-chip Agents™, proteanTecs provides meaningful insights and visibility unattainable until today, leading to new levels of quality, reliability and scale. Founded in 2017, the company is headquartered in Israel with offices in New Jersey, California, Germany and Taiwan.