DisplayLink┬«, the leading provider of solutions that simplify the connection between monitors and computing devices, announced that it has closed $10.4M of growth financing. The financing was led by Clydesdale Bank's Growth Finance team, which delivers financial support specifically aimed at high-growth, venture capital-backed businesses with strong intellectual property. Existing investors Atlas Venture, Balderton Capital, Cipio Partners, DAG Ventures, and DFJ Esprit contributed to the equity funding. The Palo Alto-headquartered company will use the funds for working capital to support strong growth of its semiconductor and software solutions business.
Commenting on the funding, Graeme Sands, Head of Growth Finance at Clydesdale Bank, said, "We think DisplayLink's technology is increasingly well matched to the way people now expect to use a variety of computing devices with multiple monitors. In particular, the benefit to the corporate market in simple, high-quality, USB connectivity seemed compelling."
"We are delighted with our new banking partner, Clydesdale Bank and the continued support of our existing investors," said Graham O'Keeffe, DisplayLink's chairman. "DisplayLink enjoys strong market pull and adoption due to its continuing investment and leadership in high quality solutions, unequaled compatibility, and a robust product roadmap. This financing will ensure DisplayLink has the resources necessary to fund its growth."
"With the introduction of smaller computing platforms such as Ultrabooks and tablet computers, DisplayLink is becoming the first choice for users wanting to expand beyond the connectivity constraints of these platforms," commented John Cummins, SVP Sales and Marketing at DisplayLink. "DisplayLink's ability to provide multiple monitors, Ethernet, audio, and other services over a universally deployed and simple-to-use USB connecter is unique in the industry."