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June 06, 2019
SiFive Secures $65.4 Million In Series D Funding
RISC-V Leader's Global Hypergrowth Attracts Strong Venture Backing
SAN MATEO, Calif., - June 6, 2019 –
SiFive, Inc., the leading provider of commercial RISC-V processor IP and silicon solutions, today announced it raised $65.4 million in a Series D round led by existing investors Sutter Hill Ventures, Chengwei Capital, Spark Capital, Osage University Partners and Huami, alongside new investor Qualcomm Ventures LLC. This Series D round brings the total investment to date in SiFive to more than $125 million.
"SiFive continues to drive rapid RISC-V growth, development and adoption," said Stefan Dyckerhoff, managing director at Sutter Hill Ventures and member of the SiFive board of directors. "We are seeing significant traction across numerous markets and verticals, as evidenced by SiFive's 101 design wins. SiFive's expertise in RISC-V Core IP, complete silicon solutions and a native cloud environment is a key differentiator. Sutter Hill Ventures continues to strongly believe in – and invest in – SiFive's vision to democratize access to custom silicon."
This latest round of investment will further enable and accelerate SiFive's global expansion and technology development. In the past 18 months, SiFive has grown from fewer than 40 employees in a single office to more than 400 employees across 15 locations globally. SiFive now has offices in Beaverton, Ore.; San Mateo and Milpitas, Calif.; Austin, Texas; Boston; Bangalore and Pune, India; Shanghai; Seoul, Korea and Hsinchu, Taiwan.
"Qualcomm Ventures invests in innovative technology companies that have the potential to transform industries." said Quinn Li, senior vice president, Qualcomm Technologies Inc. and global head of Qualcomm Ventures. "SiFive has established itself as a leader in the RISC-V space making significant contributions to the broader semiconductor industry through its unique design methodology. We are excited to invest in SiFive to bring the potential of RISC-V to wireless and mobile."
SiFive is uniquely positioned to take advantage of the need for custom silicon as device manufacturers rapidly adopt domain-specific application processor designs in response to the point of compute migrating to the Edge. Both customers and investors seek SiFive's compelling portfolio of solutions, strategic partnerships, and its cloud platform.
"We are honored and privileged to have the backing, expertise, and experience of our investors and our board," said Naveed Sherwani, president and CEO of SiFive. "Hypergrowth and industry disruption cannot happen without bold commitment. We are proud to count on our incredible investors and champions as a key part of how we grow in select markets and verticals, access platforms and technologies, find talent, and partner with giants in order to realize our vision."
SiFive is the leading provider of market-ready processor core IP and silicon solutions based on the free and open RISC-V instruction set architecture. Led by a team of seasoned silicon executives and the RISC-V inventors, SiFive helps SoC designers reduce time-to-market and realize cost savings with customized, open-architecture processor cores, and democratizes access to optimized silicon by enabling system designers in all market verticals to build customized RISC-V based semiconductors. With 15 offices worldwide, SiFive has backing from Sutter Hill Ventures, Qualcomm Ventures, Spark Capital, Osage University Partners, Chengwei, Huami, SK Hynix, Intel Capital, and Western Digital. For more information, www.sifive.com.