Ubicom INC, a leading provider of communications processor and software solutions, announced the completion of its Series 4 financing round totaling $18 million. Led by Lehman Brothers Venture Partners and Samsung Venture Investment Corporation, this financing also includes the company's existing investors. Brian Melton, a partner in Lehman Brothers Venture Partners, will join the board of directors.
“With their innovative and proven processor and software platform, Ubicom is well positioned to take advantage of the transition to higher speed networks and the proliferation of network connected media devices in the home,” said Brian Melton of Lehman Brothers. “We see many opportunities where this technology can be applied both now and in the future.”
“This new round of funding will allow us to scale in our engineering, sales and marketing efforts, as we continue our rapid revenue growth and expansion into new markets,” said Cathal Phelan, CEO of Ubicom. “The next couple of years promise to be exciting times for Ubicom as the adoption of our StreamEngine® 5000 family of processor and software platforms take a firm hold in the marketplace.”
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