Amalfi fuels explosive growth with $24 million in Series C funding

LOS GATOS, USA: Amalfi Semiconductor, a developer of high-performance, CMOS Radio Frequency (RF) and mixed-signal semiconductors, announced that it has received $24 million in Series C funding from four investment firms.

The company is anticipating explosive revenue growth in upcoming months for its advanced CMOS power amplifier products, which offer significant cost, size and power advantages to cellular handset manufacturers. This new investment will fund Amalfi Semiconductor's operations to support this growth, as well as allow expanded product development and marketing efforts.

The investment was led by Battery Ventures. Existing venture investors, DCM, Globespan Capital Partners and Trinity Ventures also participated in this third-round funding. Amalfi Semiconductor also today announced that Ken Lawler, Battery Ventures General Partner, has joined Amalfi Semiconductor's board of directors.

"Over the past few years, we have secured strategic customer relationships with leading cellular handset manufacturers by demonstrating the superior advantages of our CMOS power amplifier technology," said Jim Finch, Founder and CEO of Amalfi Semiconductor.

"With the introduction of our first product in 2008, we have proven to these manufacturers that our CMOS technology offers them superior front-end system performance over competing GaAs technology. The Battery Ventures, DCM, Globespan Capital Partners and Trinity Ventures investment will allow us to further penetrate the market with new technology that we believe will lead to a paradigm shift to CMOS-based front-end handset solutions as manufacturers look to improve the battery life and reduce the cost of next-generation emerging market handsets and high-end mobile phones."

"We've researched this market and all the emerging players for more than a year, and it's clear to us that Amalfi has solved a problem that others have been unable to solve: making CMOS work for the multibillion dollar front-end handset market," said Ken Lawler, General Partner, Battery Ventures.

"We know these markets well enough to know that CMOS always wins, and the Amalfi team is proving to cellular handset manufacturers worldwide that their CMOS-based power amplifier technology works. The company's market position, technology, design methodology and strong management team put them out in front in a large and growing market and give their customers the edge they're looking for."