DisplayLink® Closes Series D Funding
PALO ALTO, Calif. and CAMBRIDGE, UK, September 28, 2011 – DisplayLink Inc., the leading provider of solutions that simplify the connection between monitors and computers using USB, has announced that it has closed a $15m Series D funding round. The new equity financing was led by incoming investor Cipio Partners and co-led by existing investor DFJ Esprit. Previous investors Atlas Venture, Balderton Capital and DAG Ventures also contributed to the round.
The Palo Alto-headquartered company develops integrated circuits and software that connect monitors to laptops and PCs using standard interfaces such as USB, WiFi and Ethernet, either directly or via docking stations, adapters, and local area networks. It counts Acer, HP, Kensington, Lenovo, LG, Targus and Toshiba as customers.
Recent DisplayLink innovations have included the introduction of the mobile USB connected monitor. Available now from Lenovo, Toshiba and MMT, the technology has been receiving high marks in the media. In a recent review of the Lenovo ThinkVision LT1421 by James Kendrick, mobile editor for ZDNet, the productivity benefit of the portable display is clear, “Having a second display turned the laptop experience into one more like that of a desktop system, and that is the strength of this display.” He later adds, “Mobile professionals who find a second screen important should take a look at this solution.”
In fact, the Lenovo ThinkVision was just awarded LAPTOP Magazine Editors' Choice and received a 4.5 star review by Editor Avram Piltch.
DisplayLink recently started volume shipment of its third generation silicon, the DL-3000 series, supporting SuperSpeed USB 3.0 and HDMI. At the Intel Developers Forum this month the company demonstrated this new solution in action with two flat screens displaying separate full frame HD videos from a single laptop computer. At the show DisplayLink also announced a partnership with Targus to bring first products to market based on its new DL-3900 chip and software platform.
Commenting on the funding, Dr. Maximilian Schroeck, managing partner of Cipio Partners said, “We were attracted to the clear technology lead that DisplayLink has created, the market traction already demonstrated with multiple manufacturers, and the considerable end-user enthusiasm for its products. We expect the recent move to support SuperSpeed USB and multiple HD monitors will further grow the addressable market for its technology, and as such we welcomed the opportunity to invest in the company’s next stage of growth.”
“We are obviously delighted with the confidence shown in DisplayLink by our new investor Cipio Partners and the continued support of our existing investors,” said Graham O’Keeffe, DisplayLink chairman. “Supporting multiple HD monitors presented us with an enormous technical challenge, but customers are delighted by the high picture quality we are able to deliver and our ability to support both SuperSpeed USB and legacy interfaces. This new financing will allow us to continue the roll out of innovative new products in conjunction with our long-term partners.”
“Market research indicates there will be over 800M HD TVs and over 1000M notebook computers by 2014, underscoring the importance of the DisplayLink mission to simplify the connection between monitors and devices,” commented John Cummins, SVP sales and marketing at DisplayLink. “Given DisplayLink’s ability to provide HD video and graphics over USB, consumer and business users alike are assured that high definition content is delivered with simplicity, reliability and security.”
About Cipio Partners
Cipio Partners is a leading investment management and advisory firm in the Secondary Directs market. Founded in 2003, Cipio Partners manages an international portfolio of growth investments from offices in Luxembourg, Munich, and San Jose, CA. Further information is available at http://www.cipiopartners.com
About DFJ Esprit
DFJ Esprit is a leading cross-stage venture capital firm that invests in European technology companies. Members of the DFJ Esprit team have been active in technology investing for three decades. They have experience of investing in over 200 companies, generating strong returns for investors through building valuable global companies alongside founders and management teams.
The DFJ Esprit partners have invested and helped build many of Europe’s most successful venture companies of recent years, including Apatech, Buy.at, Icera, KVS, LOVEFiLM, CSR, Domantis and Zeus. DFJ Esprit is the exclusive European partner for Silicon Valley based Draper Fisher Jurvetson (DFJ) Global Network of venture funds. DFJ Esprit invests across Europe and has partners located in London, Cambridge, Dublin, Helsinki and Paris. Further information is available at http://www.dfjesprit.com/home
DisplayLink Corp (www.displaylink.com) develops hardware and software solutions to enable easy connectivity between monitors and computing devices over standard interfaces such as USB, Ethernet and wireless networks. DisplayLink technology is used in dozens of globally branded PC accessories including monitors, universal docking stations, display adapters, projectors, and zero client systems that make expansion of the desktop visual workspace possible, at significantly lower cost and energy usage than traditional solutions.
DisplayLink is ranked the fourth fastest-growing EMEA Company by Deloitte, and was awarded the CES 2011 Best of Innovation Award Honoree in the Enabling Technologies category for its Interactive Networked Graphics for SuperSpeed USB. For more information and product details, visit the DisplayLink Shop and follow DisplayLink on Facebook, LinkedIn, YouTube and Twitter.