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.
The lead investor in the funding round was Bessemer Venture Partners from the US (www.bvp.com), together with all three Israeli VCs that participated in the company's 2005 A round - JVP (Jerusalem Venture Partners - www.jvpvc.com), Star Ventures (www.star-ventures.com), and Walden Israel (www.walden.co.il).
Siano has developed the SMS1000, the lowest power consumption mobile DTV receiver chip, which is the only one supporting multiple spectrum bands and multiple DTV 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 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 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, Shanghai, Mumbai, and Bangalore, the firm manages two billion dollars of venture funds, carrying on a tradition of hands-on, active venture investing 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, 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, 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, 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.