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06/06/2007

Stretch Inc. Secures $12 Million in Series B Funding Round

 

Stretch Inc., the pioneer and leader in software configurable processors, recently announced it has raised $12 million in Series B funding. The round was co-led by Worldview Technology Partners, Oak Investment Partners, and Menlo Ventures. The additional capital will allow the company to continue to roll out its S6000 family of processors based on the S6 architecture. The Stretch S6 architecture, announced in March of this year, represents a new class of embedded processors enabling video, imaging, and wireless signal processing.

“The participation of all our previous venture capital firms in this new round validates Stretch’s technology, strategy, and the hard work of our employees. We are appreciative of not only our investors’ financial support but also the guidance they provide,” said Craig Lytle, president and CEO of Stretch. “This latest round of funding will enable Stretch to expand our plans to provide customers with complete silicon, software and hardware reference designs based on the S6000 family, which will be sampling next month.”

“The tremendous customer response to the new S6000 family of processors impelled us to participate in this round,” said James Wei, Co-Founder and General Partner of Worldview Technology Partners. “We are excited about the direction and execution that Stretch has shown with the S6000 family.”

With more than sixty employees, and offices worldwide, Stretch has received thirteen patent awards and has thirteen additional pending.

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, and wireless applications worldwide.

For more information, please visit www.stretchinc.com