PeakStream Raises $17 Million

By SiliconIndia   |   Tuesday, 19 September 2006, 07:00 Hrs
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CALIFORNIA: Software application platform provider PeakStream Inc today announced that it has raised a total of $17 million of equity funding from Kleiner Perkins Caufield & Byers, Sequoia Capital and Foundation Capital.

The completion of the Series B funding will enable PeakStream, that has Varun Mehta as Vice President Engineering, to accelerate the introduction of its breakthrough platform for the high performance computing (HPC) market. The Platform makes it possible to easily program new high performance processors, converting them into radically powerful computing engines for exponentially increased application performance and decreased time-to-solution at reduced cost.

Foundation Capital led this round of funding, joining the firm's existing investors, Kleiner Perkins Caufield & Byers and Sequoia Capital, who provided initial funding in early 2005. PeakStream also announced that Matt Murphy, partner of Kleiner Perkins Caufield & Byers, Jim Goetz, partner of Sequoia Capital and Adam Grosser, partner of Foundation Capital, have joined its board of directors.

"We plan to strategically grow the company so we can deliver a platform that maximizes the performance advantages a standard multi-core processor with an easy to use programming capability," said Neil Knox, CEO and president of PeakStream.

As a new generation of highly parallel processors comes to market, engineers and scientists struggle with new programming models. "During the last decade, the computer industry has standardized on commodity processors," said Matt Murphy, partner of Kleiner Perkins Caufield & Byers. "As everything from GPUs to multi-core CPUs become increasingly parallel, and increasingly difficult to program, there is a need for a new software platform to unlock their potential power.”

Continuing in the same vein, Adam Grosser, partner of Foundation Capital said, "We believe that PeakStream will change the way commodity processors are programmed.”

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