SiCortex Ramps Up With $10 Million In Venture Debt
SiCortex, the first company to engineer a Linux cluster from the silicon up, today announced that it has secured $10 million in venture debt as it launches its super energy efficient high performance Linux cluster computers. The investment, from Hercules Technology Growth Capital, will help SiCortex accelerate production and sales and marketing efforts in response to demand for its products.
Hercules is a leading specialty finance company providing growth capital in the form of venture debt and equity to venture capital and private equity backed technology and life science companies at all stages of development
“SiCortex designed a brilliant technological solution that addresses major critical issues in the high performance computing industry,” said Roy Liu, managing director at Hercules. “The market response has affirmed that the company has anticipated key drivers in the technological market and designed a world class product that recognizes those needs.”
SiCortex had previously closed two $21 million rounds of financing from Chevron Technology Ventures, Flagship Ventures, JK&B Capital, Polaris Venture Partners and Prism VentureWorks.
"Our surveys of the HPC community are showing us that power efficiency has become a major element in purchase decisions, in a way that did not exist even a year ago," said Addison Snell, vice president and general manager of Tabor Research. "Companies like SiCortex, who targeted both power efficiency and performance, are well-positioned to benefit from this market shift."
SiCortex has introduced a new concept in high performance computing, limiting power consumption and physical size to gain performance. The company has implemented a complete cluster node on a chip, including six 64-bit processors, multiple memory controllers, a high performance cluster interconnect and a PCIexpress connection to storage and internetworking. A SiCortex cluster node consumes 15 watts of power, an order of magnitude less than the 250 watts used in a conventional cluster node. The SC5832 can perform six trillion operations per second in a cabinet that is less than one-third the size of conventional clusters.
About Hercules Technology Growth Capital, Inc.:
Founded in December 2003, Hercules Technology Growth Capital, Inc. is a NASDAQ traded specialty finance company providing debt and equity growth capital to technology and life science companies at all stages of development. The Company primarily finances privately held companies backed by leading venture capital and private equity firms and also may finance certain publicly-traded companies. Hercules’ strategy is to evaluate and invest in a broad range of ventures active in technology and life science industries and to offer a full suite of growth capital products up and down the capital structure to prospective clients ranging from early-stage growth to expansion stage companies. The Company's investments are originated through its principal office located in Silicon Valley, as well as additional offices in the Boston, Boulder, Costa Mesa and Chicago areas. Providing capital to publicly-traded or privately-held companies backed by leading venture capital and private equity firms involves a high degree of credit risk and may result in potential losses of capital.
For more information, please visit www.HTGC.com. Companies interested in learning more about financing opportunities should contact info@HTGC.com, or call 650.289.3060.
