BridgeCo Raises $23M in Latest Venture Finance Round; Silicon and Middleware Provider for Networked Consumer Electronics Opens Los Angeles Business Headquarters.
"BridgeCo is achieving significant traction in the rapidly emerging consumer market for networked products in the home," said Martin McNair, a Partner at BridgeCo investor Advent Venture Partners. "With a proven and cost-effective technology platform targeted at a multi-million unit consumer market opportunity, BridgeCo is poised to benefit from the growing synergy of Web-based entertainment, broadband access and wired and wireless home networks."
Proceeds from the financing will be used to accelerate market adoption and product development activities. Eric Archambeau of Wellington Partners and Martin McNair from Advent Venture Partners have joined BridgeCo's board of directors.
"The confidence of top tier investors, such as Advent and Wellington, is a great testament to BridgeCo's leading position in this exciting growth market," said Gene Sheridan, CEO of BridgeCo. "Consumer products from leading global brands on three continents rely on BridgeCo platforms for networking capabilities. Our investors understand that the digital home is being built today on a BridgeCo foundation."
Los Angeles Business HQ Increases Focus on Digital Home Developments
Concurrent with the completion of their venture financing round, BridgeCo also announced the inauguration of their new business HQ in the Los Angeles suburb of El Segundo. The company's CEO, COO, CFO and North American sales and marketing team will be based in LA, while the bulk of BridgeCo's engineering and development team will continue to be located in Zurich, Switzerland. The Southern California location will enable BridgeCo to more easily communicate with strategic partners and customers in the entertainment and technology industries. BridgeCo also maintains sales and marketing offices in London, Taipei and Tokyo, and satellite development teams in Moscow and Bangalore.
"The US consumers are a major driver of the emerging digital home market," said Sheridan. "Our new LA business HQ gives BridgeCo a front row seat in this important market, and enhances our relationships with key global companies that are at the forefront of content creation and technology development across the PC and CE markets."
BridgeCo, a digital entertainment networking pioneer, offers the world's most comprehensive, cost-effective and highly integrated processor and software platforms for connecting Internet media sources, computers and consumer electronics throughout the home. BridgeCo platforms are used in a wide range of innovative and legacy products produced by the multi-billion dollar global consumer electronics industry, including digital media players, audio/video adapters, DVD players, musical instruments and breakout boxes. Its silicon and middleware platforms were among the first anywhere to be DLNA(TM) CERTIFIED, and its solutions are used by leading consumer electronics manufacturers worldwide.
Using BridgeCo's processor and bundled software, OEMs can offer stand-alone media network products, or embed networking capabilities directly into consumer products, at competitive retail price points. The company also offers market-leading solutions for FireWire(TM) audio interface systems used by musicians and other content creators.
BridgeCo is an ISO 9001-certified company with headquarters in Los Angeles, California and operations in Zurich, Switzerland. Its key investors include Advent Venture Partners, Benchmark Capital, Cipio Partners (formerly Infineon Ventures), Earlybird Venture Capital, Fidelity Ventures, Intel Capital and Wellington Partners.
For more information about BridgeCo, please visit www.bridgeco.com.
For more information about Advent Venture Partners, please visit www.adventventures.com.
For more information about Benchmark Capital, please visit www.benchmark.com.
For more information about Cipio Partners, please visit www.cipiopartners.com.
For more information about Earlybird Venture Capital, please visit www.earlybird.com.
For more information about Fidelity Ventures, please visit www.fidelityventures.com.
For more information about Intel Capital, please visit www.intel.com/capital.
For more information about Wellington Partners, please visit www.wellington-partners.com.
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|Date:||Jun 13, 2006|
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