GainSpan Raises $19 Million In Series D
GainSpan is a semiconductor company that is known for developing low-power WiFi technology. The company has raised $19 million in Series D funding. GainSpan reportedly wanted to raise $1 million more, but they ended up settling. GainSpan has raised a total of $75 million.
New investors Zebra Technologies Corporation and Oplink Communications participated in this round. Existing investors Opus Capital, Intel Capital, New Venture Partners, Sigma Partners, Camp Ventures, and Hatteras Funds also were involved in this round. GainSpan’s last funding round was $18 million in Series C and it closed in December 2011.
GainSpan is known for developing ultra-low power embedded wireless chips and software for devices to be connected to the Internet. “This funding will be used to help these products proliferate into a broad range of end products and to expand our sales, marketing and technical resources as we grow our customer base,” stated GainSpan CEO Greg Winner.
The company has around 90 full-time staff members and they have more than doubled their revenues. Their customer base has also doubled year-over-year. GainSpan spun out of Intel as a standalone company in 2006. GainSpan used to be known as Emphany Systems.