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Kilopass Technology Inc. Closes Second Round of Venture Capital Funding

U.S. Venture Partners Joins Prior Investors BlueRun Ventures, iGlobe Partners

Kilopass Technology Inc., a provider of embedded non-volatile memory (NVM) intellectual property (IP), recently announced the successful conclusion of its second round of venture capital funding from U.S. Venture Partners, BlueRun Ventures and iGlobe Partners. This round of funding for $8.8 million will enable the company to further develop the performance and features of its low-cost secure embedded memory technology and continue to expand its market presence.

"Kilopass Technology has made tremendous progress since our original round of VC funding in 2002," said Bernie Aronson, CEO of Kilopass Technology. "We have seen increased awareness and adoption of our XPM technology in a wide variety of applications, often replacing other types of non-volatile memory for cost or security reasons. We welcome U.S. Venture Partners as an investment partner and appreciate their extensive experience in the semiconductor markets that Kilopass targets."

"We have been impressed with the progress Kilopass Technology has made to date´┐Ż. said Dr. Arati Prabhakar, Partner at U.S. Venture Partners. "The company is in a position to make a significant impact in the communications, consumer and computer marketplaces with a technology that gives its customers significant cost and product-differentiation advantages."

Jui Tan, Partner at BlueRun Ventures, noted: "Kilopass has achieved a lot with the initial investment they received from BlueRun. The company has successfully qualified and delivered the non-volatile memory technology to multiple leading customers, received 11 patents, and gained acceptance by the world's leading foundries."

Kilopass Technology was founded to develop and market advanced NVM technology leveraging only standard CMOS logic processes. It is silicon proven to deliver high-density, low-cost storage solutions with the most advanced process technologies. With an impressive list of customers and a strong research and development team, the company is committed to maintaining its lead in the embedded NVM space.