Sunnyvale, California (PRWEB) February 01, 2012
Stretch Inc., the pioneer and leader in software configurable processors, today announced it has raised $5 million in a Series C round. The funding was co-led by Worldview Technology Partners and Oak Investment Partners. Stretch will use the additional funding to support the expansion of its solutions based on the S7000 family of software configurable processors and for development of its next-generation solutions.
“Stretch reference designs and OEM products set new performance standards for the surveillance industry,” said Craig Lytle, Stretch president and CEO. “Additionally, we are involved in other applications requiring high-performance embedded computing such as gesturing, gaming, video conferencing, and media streaming. The continued support of our investors allows us to engage in those markets and to develop our next generation solutions.”
With more than sixty employees, and offices worldwide, Stretch has received 23 patent awards.
Stretch Inc. is delivering a family of software configurable processors, the first to embed programmable logic within the processor. Using familiar C/C++ programming tools, system developers automatically configure Stretch’s off-the-shelf processors to achieve extraordinary performance, easy and rapid development, significant cost savings, and flexibility to address diverse markets and changing application needs. Stretch devices are used in video processing, machine vision, networking, and wireless applications worldwide. For more information, visit http://www.stretchinc.com.
About Worldview Technology Partners
Worldview Technology Partners is a leading venture capital firm focused on investing in and building leading U.S. technology companies. Worldview's comprehensive, industry-leading business development services help its portfolio companies succeed in U.S. and international markets. With a 15-year track record of successful technology investing and close to $1.4 billion under management, the Worldview team – now on its fourth fund – has both the experience and the resources to invest in a broad range of information technology markets, including semiconductors, enterprise infrastructure, and software.
About Oak Investment Partners
Oak Investment Partners is a multi-stage venture capital firm. The primary investment focus is on high growth opportunities in Broadband Internet and Wireless Communications, Information Technology and Software Outsourced Services, Consumer Internet/New Media, Financial Services Technology, Healthcare Information and Services, Clean Energy, and Retail. Over a 34-year history, Oak has achieved a strong track record as a stage-independent investor funding more than 495 companies at key points in their lifecycles.
Stretch and the Stretch logo are registered trademarks of Stretch Inc.
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