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Star Bridge Secures Sorenson Capital Investment Funding
Star Bridge Systems, Inc., a leader in the reconfigurable high-performance computing market, announced it closed nearly $7 million in growth equity financing. Sorenson Capital led this round, which also includes the Wasatch Venture Fund and Kensington Investments. This investment in Starbridge is a strong validation of the company's intellectual property in the field of reconfigurable computing. "We are excited to have Sorenson Capital express confidence in our Hypercomputing technology and company," said Daniel Oswald, CEO and president of Starbridge. "Our partnership with Sorenson Capital gives us greater access to the high- performance hardware users and vendors and will allow us to expand our market share and visibility." Sorenson Capital is a private equity fund which recently completed its fund- raising and now has a quarter-billion dollars to invest in Western U.S. companies. Richard Lawson, managing director of Sorenson Capital, said, "We believe Starbridge provides breakthrough innovations which solve the next generation of compute-intensive applications, reaching beyond the capabilities of today's supercomputers. The Starbridge technology is a compelling story that may well influence the future direction of high-performance computing." Starbridge technology has caught the interest of many large organizations who are intrigued with the promise of Hypercomputing, including the US Air Force. "We have investigated numerous approaches for taking advantage of reconfigurable computing technology and its benefits. Starbridge Systems' Viva offers us the most flexibility," states Lloyd Reshard, U.S. Air Force Research Laboratory, Eglin AFB, Florida. "Sorenson Capital's involvement will allow Starbridge to increase their rate of innovation, providing additional capabilities of great interest to our joint projects." Steve Young, the most highly rated quarterback in National Football League history, and now managing director of Sorenson Capital, added, "Endorsement of Starbridge technology by a prestigious lineup of early adopter customers is evidence that the Hypercomputing platform is ready for the next stage of market growth and penetration. Sorenson Capital is pleased to extend our financial backing and market access to assist Starbridge in this exciting progression."