Quellan Raises $20M in New Financing Round
Adds New Global Corporate, Venture Capital, and Industry Veteran Investors
SANTA CLARA, CA - September 27, 2007 -- Quellan Incorporated, a leader in Analog Signal Processing and RF Noise Cancellation, today announced that it has closed $20 million in its Series C round of venture financing. The new capital will be used to accelerate production and new products for consumer, industrial and communications markets.
New investors include W.L. Gore & Associates, Inc. (Gore) - a world leader in Electronic Transmission Systems, Harbinger Venture Management - backed by MiTAC, a world leader in GPS Personal Navigation Platforms, JAFCO Ventures - a Palo Alto based venture capital firm that adds tangible value through its Tokyo based business development team and Glynn Capital Management - a diversified investment group established in 1975. These new investors join Menlo Ventures, Yamacraw Capital Seed Fund, Cordova Ventures, Samsung Ventures America, and VentureTech Alliance.
The Company also announced that Robert C. Dobkin has made an investment in the company and has joined its Advisory Board. Mr. Dobkin is a veteran of the analog semiconductor industry and a Founder of Linear Technology, a world leader in analog IC's, and currently serves as its Chief Technology Officer and Vice President of Engineering.
"Quellan's combination of high-growth market focus, unique technology and a proven team make it an exciting investment opportunity as well as technically interesting" said Robert Dobkin, CTO and VP of Engineering at Linear Technology. "Interference noise has been the pre-eminent limiting factor in communications for decades and Quellan has a unique method to mitigate it."
"I'm very excited about Quellan's noise cancellation technology and its ability to target a broad range of segments within the electronics market," says Russell Shaller, Division Leader for Gore's Electronic Products Division. "I believe that through technical collaboration with Quellan we can add significant value to the broad range of market segments in which Gore participates."
Quellan recently announced a wide range of new product offerings including it's flagship QNx RF Noise Canceller product line for consumer and mobile product applications, the QHx Harmonic Suppressor for digital harmonic noise suppression, and the QLx product line for enterprise and data center applications.
"The noise cancellation opportunity has expanded to include consumer electronics, enterprise, mobile wireless, computing and automotive," said D. Tony Stelliga, President and CEO of Quellan Incorporated. "This new capital and expanded world class investor group will ensure we continue to capitalize on these new opportunities."
About W.L. Gore & Associates
Founded in 1958, W. L. Gore & Associates, Inc. has parlayed its unique technical capabilities into hundreds of diverse products and is world-renowned for its expertise in configuring the remarkably versatile polymer PTFE. This has resulted in numerous products for electronic signal transmission; fabric laminates; medical implants; as well as membrane, filtration, sealant, and fiber technologies for diverse industries. With nearly $2 billion in sales, the company is headquartered in Delaware in the US and employs approximately 7,000 associates at 45 facilities throughout the world. Gore is one of only five companies included in every selection of Fortune Magazine's "100 Best Companies to Work For" since the list began in 1984. Gore has also been cited among the "Best Places to Work" in Germany, Italy and Scotland.
www.gore.com
About Harbinger Venture Management
Harbinger's mission is to be a value-added venture investor in the core technologies that will enhance the productivity and experience at the workplace or at home. Leveraging MiTAC's strong financial backing and web of networks, Harbinger strives to create synergy and forge strategic relationships among its investee companies and the Group's affiliated companies at every opportunity. Welcoming challenge, Harbinger will continue to be a forerunner in the technologies that will change the communications and computing networks of tomorrow while generating tangible results and real value for both its investees and investors.
www.harbingervc.com
About JAFCO Ventures
JAFCO Ventures launched in July of 2003 with a new fund, a highly experienced investment team and a value added strategic limited partner in Japan that provides capital as well as the support of established business development resources. Today, JAFCO Ventures has more than $200 million under management. JAFCO Ventures invests in early stage technology companies alongside top-tier venture firms in broad-based information technology companies within the communications, components, digital media, Internet, software and wireless sectors. In addition to the seasoned venture capital help JAFCO Ventures provides its portfolio companies, they also add tangible value to portfolio companies with their Tokyo based business development professionals dedicated to delivering significant revenue from the most prominent distributors and customers in Japan and other parts of Asia.
www.jafco.com
About Glynn Capital Management
Glynn Capital Management LLC is a venture capital and investment management firm dedicated to investing in high quality private and public companies that take advantage of technologically driven waves of change to address important and unmet market needs through the creation of innovative products and services in the technology and life sciences fields. In order to become significant enterprises these companies must have management teams Glynn believes they can address the business challenges of emerging markets and create a culture that will attract and retain outstanding people. Since 1975 Glynn Capital has employed their investment philosophy to achieve significant investment returns for a small number of high net-worth individuals and endowments.
www.glynncapital.com
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