Siano Mobile Silicon Secures $23M in Series B Funding; Round Led by Leading US VC Bessemer Venture Partners, With the Participation of the Existing VCS from Round A.
NETANYA, Israel -- Israel-based Siano Mobile Silicon (www.siano-ms.com), a fabless semiconductor product company developing mobile digital television (MDTV MDTV Mountaineer Doctor Television ) receiver solutions, has successfully closed its Series B funding of approximately $23 million, the company reported today.
The lead investor in the funding round was Bessemer Venture Partners Bessemer Venture Partners is a private venture capital firm with offices in Silicon Valley, New York, Massachusetts, China, and India. It has backed such companies as Ciena, Flarion, Parametric Technologies, Skype, Staples, VeriSign and Veritas. from the US (www.bvp.com), together with all three Israeli VCs that participated in the company's 2005 A round - JVP JVP Janatha Vimukthi Peramuna (People's Liberation Front, Sri Lanka)
JVP Jewish Voice for Peace
JVP Jugular Venous Pressure
JVP Junge Volkspartei (Young Austrian People's Party)
JVP Junior Vice President (Jerusalem Venture Partners - www.jvpvc.com), Star Ventures (www.star-ventures.com), and Walden Israel (www.walden.co.il).
Siano has developed the SMS (1) (Storage Management System) Software used to routinely back up and archive files. See HSM.
(2) (Systems Management Server) Systems management software from Microsoft that runs on Windows NT Server. 1000, the lowest power consumption mobile DTV receiver chip, which is the only one supporting multiple spectrum bands and multiple DTV (Digital TeleVision) Transmitting TV using digital signals. The major DTV standards are ATSC (North America), DVB (Europe) and ISDB (Japan). All three use MPEG-2 video compression and Dolby Digital audio compression. DVB and ISDB also include MPEG audio compression. standards. The SMS1000 was demonstrated earlier this year in the 3GSM Congress and trade show in Barcelona, and a number of customers have already started designing it into various mobile devices, while other customers are evaluating it.
"Our investment in Siano is based on the company's proven state-of-the-art technology and its position as the leading product for the emerging market of mobile digital TV," said Bob Goodman, general partner at Bessemer Venture Partners. "Siano's management team has exceptional all-around capabilities, and the company is clearly poised for market leadership and dramatic growth. We at Bessemer are excited about supporting Siano's success."
"The market for mobile digital television is heating up, and Siano has moved rapidly over the last year to claim the leading position with the SMS1000, which is going now to mass production," said Alon Ironi, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Siano. "The new investment will allow the company to build a strong customer support infrastructure, expand its marketing and sales team worldwide, and design its second generation product."
The company has 40+ employees and continues to grow. Recently, Siano hired Ram Levinson as as its Vice President for Business Development and Sales. He was formerly the Customer Program Manager of Bluetooth and WLAN See wireless LAN.
WLAN - wireless local area network Products for Texas Instruments and has extensive experience in the cellular market from TI, Ericsson and Motorola.
About Bessemer Venture Partners
Bessemer Venture Partners (BVP) is the oldest venture capital practice in the United States. With offices in Silicon Valley, Boston, New York Boston is a town in Erie County, New York, United States. The population was 7,897 at the 2000 census. The town is named after Boston, Massachusetts.
The Town of Boston is an interior town of the county and one of the county's "Southtowns. , Shanghai, Mumbai, and Bangalore, the firm manages two billion dollars of venture funds, carrying on a tradition of hands-on, active venture investing venture investing
The acquiring of a stake in a start-up company by a brokerage firm or analyst by obtaining discounted, pre-IPO shares. Critics claim venture investing causes analysts to have a vested interest in seeing a stock appreciate in value and so that has continued since 1911. Over 100 Bessemer companies have gone public, including American Superconductor, Ciena, Gartner Group, Ingersoll Rand, International Paper, Maxim, Parametric, Perseptive Biosystems, Staples, VeriSign, Veritas, and W.R. Grace.
JVP is a leading Israeli venture capital firm focusing on investments in early stage companies in media and content, as well as enterprise software & networking, semiconductors & components and communications & mobile infrastructure sectors. With over $680 million under management, and offices in Jerusalem, New York Jerusalem is a town in Yates County, New York in the United States. The population was 4,525 at the 2000 census. The town is named after Jerusalem in the Middle East.
The Town of Jerusalem is on the south border of the county and is southwest of Geneva, New York. , London, Tokyo and Shanghai, JVP leverages its international presence, vast expertise and substantial capital base to build companies with the potential to shape and dominate global markets.
About Star Ventures
STAR Ventures Capital was founded more than a decade ago as an international VC firm. It has been investing in private, emerging and later-stage growth opportunities within the Telecom, Enterprise S/W See software. , Wireless and Biotech sectors. Working from offices in Munich, Herzliya and Dallas, it has both the global reach and the resources to enable successful growth for its companies.
STAR Ventures currently manages almost 1 billion dollars of venture funds, which was raised from reputable investors. Star's endeavors have encompassed investment in more than 180 portfolio companies which, to date, have culminated in 58 successful IPO's & M&A's, such as Ciena, Alvarion, Precise, EFI See UEFI.
EFI - Extensible Firmware Interface , Creo, and Orckit.
For more information about STAR please visit www.star-ventures.com
About Walden Israel
Walden Israel is one of Israel's leading early stage technology venture funds, operating in Israel since 1993. Walden Israel manages three highly focused funds concentrating in the Telecom and IT markets. The fund is managed by highly experienced technology entrepreneurs and has backed more then 40 Israeli start-ups to date.