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04/22/2007

LitePoint Receives Private Equity Funding

 

LitePoint Corporation, an industry leading provider of advanced wireless test solutions, recently announced that it has completed a round of private equity funding from Sequoia Capital. LitePoint Corporation, founded by semiconductor and wireless veterans, is attuned to the design process, systems development, and manufacturing needs of wireless chipset vendors (e.g. Atheros, Beceem, TI), OEMs (e.g. Gemtek, RAFI, Sercom), and consumer electronics systems makers (e.g. AVM, NETGEAR). It accelerates the success of the global consumer electronics industry by providing innovative test solutions to the entire wireless communications industry value chain that shorten time to production, enhance customer support and increase control of brand quality and costs.

LitePoint industry-leading products include IQmax� – the first one-box WiMAX tester system for R&D and manufacturing, IQview� and IQflex� – the first integrated WiFi testers for labs and factories, IQnxn� – the first tester to support up to 4x4 MIMO wireless testing, LitePoint Bluetooth – the first test solution for Bluetooth 2.0+EDR/WiFi combo device testing, and IQfact� software – a family of test programs supporting specific wireless chipsets for  design verification (DVT) and fast manufacturing testing.

“We invest in companies playing in large and growing addressable markets, with great teams, clear differentiation and unique competencies,” says Mike Goguen, Sequoia Capital partner. “LitePoint is at the top of the class in every regard important to us with a unique business model, large and fast growing markets, world-class technology, a superb customer base, and an inspired and driven team of people. While they have doubled in size year over year, we believe they have only scratched the surface of their potential. We have long experience with fast growing companies and will be a strong partner with them during this new high-growth phase.”

“When you look at Sequoia Capital’s track record, it is second to none,” says Benny Madsen, co-founder and CEO of LitePoint. “We only want to be associated with the best, that’s how we’ve run our business from day one. We are very fortunate to work with the people of Sequoia. With their caliber and experience on our side, we are completely aligned on how we think about scaling a business. We are convinced that they will help us be the undisputed best at how we service our customers, how we treat our people, and how we reward our shareholders.”

LitePoint is a world leader in wireless test solutions. Collaborating with all major wireless chip companies, LitePoint offers the fastest time to production, the lowest cost of test, and the best test coverage available today for the world’s largest OEMs & ODMs and Brand Owners. With commoditization shrinking product life cycles, LitePoint’s first-to-market solutions for WLAN including MIMO plus Bluetooth and WiMAX support faster test, lower cost, and increased quality for chipset designers, OEMs & odes and brand companies.  

For more information, visit LitePoint at www.litepoint.com