Credo Raises $8 Million in Series A Funding

MILPITAS, CA--(Marketwired - August 31, 2015) - Credo Semiconductor, a global innovation leader in Serializer-Deserializer (SerDes) technology, today announced that it has raised over $8 million in Series A funding led by global venture capital firm, Walden International. In addition to scaling every aspect of the Credo operation, the funding will be used to expand the development and deployment of its leading-edge SerDes IP and complementary high-speed interconnect devices. Designers use Credo's technology to accelerate throughput and deliver end-to-end signal integrity in next-generation platforms requiring single-lane 25G, 50G, and 100G connectivity, such as next-generation switches and routers for 100G and 400G enabled networks.

"It's no secret that cloud technologies, big data and mobility are driving the need for massive bandwidth expansion in the data center and yet, at the same time, the design hurdle is increasing exponentially for robust, single-lane SerDes solutions at 25G, 50G and 100G," said Bill Brennan, CEO of Credo. "SerDes technology is arguably the single most important challenge for designers needing to reliably scale network bandwidth, and we continue to demonstrate our technical advantages to customers serving this market. This round of funding will enable us to accelerate delivery on our SerDes IP roadmap, while augmenting our IP with complementary SerDes-based device solutions."

Privately-funded since 2008, Credo has consistently delivered breakthroughs in SerDes technology. Its many technical achievements include the delivery of the industry's first and only 50G SerDes IP based on NRZ modulation, as well as the delivery of the industry's first 25G and 50G SerDes IP in the TSMC 16-nm FF+ process -- a testament to the technology's robustness and ability to scale to the most advanced process nodes.

"We believe Credo Semiconductor is poised for success in markets that are expected to experience massive growth," said Lip-Bu Tan, chairman and founder of Walden International. "As our portfolio demonstrates, we partner with the best of the best in the industry, and Credo is one of those companies. Their differentiated technology and sound business fundamentals give the industry a solid source for solutions that are capable of dramatically scaling bandwidth in data center and enterprise networks."

The new round of funding will enable Credo to scale its operations and roadmap, while expanding the market for its SerDes technology. Credo intends to add to its existing 25G and 50G SerDes IP, moving to higher speeds and introducing new versions based on PAM-4 modulation. The company will also begin leveraging its SerDes IP in a new line of high speed interconnect products, including retimers and multiplexers that target front panel, backplane, and active cable applications.

About Credo Semiconductor

Credo is a leading provider of high performance, mixed-signal semiconductor solutions for the data center, enterprise networking and high performance computing markets. Credo's advanced Serializer-Deserializer (SerDes) technology delivers the bandwidth scalability and end-to-end signal integrity for next generation platforms requiring single lane 25G, 50G, and 100G connectivity. The company makes it's SerDes available in the form of Intellectual Property (IP) licensing on the most advanced processing nodes and with complementary product families focused on extending reach and multiplexing to higher data rates. Credo is headquartered in Milpitas, California and has offices in Shanghai and Hong Kong. For more information: www.credosemi.com