DisplayLink raises $10.4m fresh growth funding
10-Sep-2012 | Cambridge | News-Press Release
DisplayLink, the computer connectivity technology specialist, has raised $10.4 million debt & equity funding to underpin a fresh phase of growth for the business, which is thriving from its dual axis of Cambridge UK and Palo Alto, California. Chairman Graham O'Keeffe is presiding over the most successful phase of the company's history; Business Weekly understands it has just posted a record quarter for revenues by some distance.
It raised £15m last September to underpin roll out of its fourth generation solutions that simplify the connection between monitors and computing devices.
The new funds will boost working capital and support the strong growth of DisplayLink's semiconductor and software solutions business.
Significantly, the new round was led by Clydesdale Bank's Growth Finance team, which delivers financial support specifically aimed at high-growth, venture capital-backed businesses with strong intellectual property. The bank is earning a growing reputation for its debt funding specialism.
Existing investors Atlas Venture, Balderton Capital, Cipio Partners, DAG Ventures, and DFJ Esprit contributed to the equity funding.
O'Keeffe said: "DisplayLink enjoys strong market pull and adoption due to its continuing investment and leadership in high quality solutions, unequaled compatibility and a robust product roadmap. This financing will ensure DisplayLink has the resources necessary to fund its growth."
John Cummins, SVP sales & marketing at DisplayLink added: "With the introduction of smaller computing platforms such as Ultrabooks and tablet computers, DisplayLink is becoming the first choice for users wanting to expand beyond the connectivity constraints of these platforms.
"DisplayLink's ability to provide multiple monitors, Ethernet, audio, and other services over a universally deployed and simple-to-use USB connecter is unique in the industry."
DisplayLink's plug and display technology is acknowledged as increasing productivity and ease-of-use in the multi-display workspace and is deployed to millions of users through globally branded PC products including universal docking stations, monitors, projectors, zero client systems and display adapters.
Graeme Sands, head of growth finance at Clydesdale Bank said: "We think DisplayLink's technology is increasingly well matched to the way people now expect to use a variety of computing devices with multiple monitors. In particular, the benefit to the corporate market in simple, high-quality, USB connectivity seemed compelling."
Business Weekly online newspaper for breaking Tech News across the Globe, Full article can be found here http://www.businessweekly.co.uk/hi-tech/14513-displaylink-raises-104m-fresh-growth-funding
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