SiCortex Announces $21 Million Series B Funding Round Led By Strategic Investment Group
SiCortex, the first company to engineer a cluster computer from the silicon up, announced today that it has closed a $21 million round of funding, led by Chevron Technology Ventures through its venture capital arm, CTTV Investments LLC. SiCortex will unveil its ultra low power approach to high performance computing (HPC) at the Supercomputing ’06 show on November 13. The funding will go toward expansion of sales and marketing efforts and continued product development.
"Heat is the limiting factor in reliability and performance among computing systems climbing the list at www.top500.org," said Bob Metcalfe, SiCortex chairman, Polaris partner, and Ethernet inventor. "SiCortex begins with orders of magnitude lower heat per 64-bit processor and aims to make teraflop performance ubiquitous."
The company has now raised a total of $42 million in two rounds of funding. All four of the first-round investors participated in the second round: Polaris Venture Partners, which led the first round, Flagship Ventures, JK&B Capital, and Prism Venture Partners.
“The oil and gas industry has always been an early and aggressive adopter of high performance computers,” said Bill Seifert, Managing Partner, Prism Venture Partners. “Chevron Technology Ventures’ participation in this funding round reinforces our belief that high performance computing users need a solution to the heat and power issues limiting their ability to scale up their HPC systems.”
“We are energized by the investment from Chevron Technology Ventures,” said John Mucci, SiCortex CEO. "Chevron has a long history of HPC as a core competency. Their significant investment in SiCortex along with our existing investors is a huge vote of confidence in our strategy as we prepare to enter the market.”
About Chevron Technology Ventures
Chevron Technology Ventures identifies and invests in new technologies and business opportunities that can create value, clear competitive advantage and superior financial returns for Chevron.
About SiCortex
Headquartered near Boston, Mass., SiCortex, Inc. makes the world's most energy-efficient high-productivity computers. Its proven architecture was designed from the silicon up to provide breakthrough delivered performance at the lowest power consumption in the industry. SiCortex computers scale from 72 to 5,832 processors running Linux and other open-source codes, in packages ranging from deskside to departmental to data center. SiCortex systems are the compute-power behind some of the most important research initiatives at the country's national laboratories and academic institutions. For more information, visit http://www.sicortex.com/.
SiCortex Public Relations:
Dana Gulick
Racepoint Group
781-487-4673 (direct)
dgulick@racepointgroup.com
SiCortex:
Mark Blessing
Vice President, Marketing
SiCortex, Inc.
877.742.6783 x289
press@sicortex.com
