The investment will be used to accelerate proteanTecs’ market penetration and scale business operations to meet growing demands
ProteanTecs, a developer of deep data solutions for electronics’ health & performance monitoring, announced closing of its growth equity financing round of $45 million. The round was led by Koch Disruptive Technologies (KDT) and joined by Valor Equity Partners and Atreides Management, as well as existing investors.
“This new funding will assure market coverage as we leverage the existing commercial traction. We’ll use the investment to enhance our product offering and expand our global footprint so that we can offer even greater value to chip vendors, system integrators and service providers, as they navigate the challenges of scale in the industry. I’m glad to welcome such great partners as we write the next chapter of the company together,” said Shai Cohen, CEO of proteanTecs.
The investment will be used to accelerate proteanTecs’ market penetration and scale business operations to meet growing demands.
Company’s founders also founders of Mellanox Technologies
Company’s co-founders Shai Cohen, also CEO, and Evelyn Landman, also CTO; and Roni Ashuri, leading the company’s growing global operations, were also in the founding team of Mellanox Technologies. The latter was purchased ny Nvidia for $6.9 billion.
The recent investment brings total funding raised by the company to over $95 million. Investors in the company include the likes of Intel Capital and WVRI Capital.
“proteanTecs founders had a transformative vision – to empower machines to take responsibility over their own health. By combining various disciplines, they have spearheaded a completely new category based on Deep Data. Today’s announcement is a testament to the successful realization of that vision, proving yet again the dire market need and exemplary execution by the team. As believers from day one, we are thrilled to continue our journey and longstanding partnership with the company,” said Zvika Orron, partner at Viola Ventures.
Lip-Bu Tan, managing partner of WRVI Capital and Chairman of Walden International, noted, “The team has done an incredible job in taking the industry forward to an era of certainty and predictability. I am pleased to welcome the growth equity partners on board. We have a rich investment history alongside KDT and have great faith in their value.”