Stretch raises $15 Million in funding
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Sunnyvale: Stretch, a player in software configurable processors, has announced it has raised an additional $15 million in Series B funding. The round was co-led by Worldview Technology Partners, Oak Investment Partners, and Menlo Ventures. Craig Lytle, president and CEO of Stretch, said, "In an uncertain economy, the ability of Stretch technology to reduce system costs while providing breakthrough performance is driving strong adoption of our products across a rapidly expanding customer base." Since closing its last round of funding, Stretch has announced a series of partnerships and design wins with industry-leading video surveillance equipment manufacturers. Stretch also extended its product portfolio, releasing a third processor, the S6106, three new reference design kits, and the VRC6000 Series of DVR add-in cards. These cards interface easily to existing DVR application software and provide OEMs with rapid deployment of high performance DVR solutions. Stretch intends to use this additional funding for operational expenditures to support increased volume manufacturing. "Stretch's strategy of providing development platforms that allow customers to build differentiated products and OEM solutions delivering fast time to revenue has resulted in widespread customer adoption of our solutions," said Bob Beachler, Stretch vice president of marketing. With more than sixty employees, and offices worldwide, Stretch has received sixteen patent awards and has nine additional patents pending.

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