Friday, January 8, 2010

Discera Closes $11M Series D Financing

SAN JOSE, Calif.--(BUSINESS WIRE)--Discera (http://www.discera.com), a recognized leader in MEMS based technology for the clock and timing markets, today announced the successful completion of its Series D financing, having raised $11 million. Investors in this round include previous investors Scale Venture Partners, Horizon Ventures, and Ardesta. In addition, they were joined by new investor Lurie Investments. With the close, Mr. William White, Executive Vice President of Lurie Investments joins Discera’s Board of Directors.

“We are excited to have the support and continued investment from our existing partners. The addition of Lurie Investments as an investor to our team brings valuable expertise to Discera and a shared passion for the future of MEMS technology. We raised additional funds in this difficult economic climate to expand our product portfolio and accelerate the growth of our MEMS timing business,” said Bruce Diamond, Discera President and CEO.

Citing Discera’s technology differentiators as an important factor in their investment, Mr. White also noted, “Discera is poised to enter a period of explosive revenue growth as MEMS timing continues to gain acceptance in the marketplace. MEMS technology offers customers new cost effective solutions to their timing needs including smaller packages with more functionality. Due to the need for special packaging, quartz technology has significant limitations on adding features to oscillator products. We are very excited about Discera’s upcoming new products and we expect Discera to gain a large share of the $5 billion timing market.”

Lurie Investments is the private investing arm of the Ann and Robert H. Lurie Foundation, specializing in venture capital and private equity investing. Over the past decade, the firm has made a number of investments in the MEMS and Nanotechnology space, as well as substantial investments in life sciences, including devices, diagnostics and therapeutics. Lurie Investment Fund, LLC is based in Chicago, Illinois.

About Discera

Founded in 2001 as an extension of pioneering MEMS development work at the University of California at Berkeley and the University of Michigan at Ann Arbor, Discera is a recognized leader in MEMS oscillator technology. The company has 27 MEMS technology patents. Discera was presented with the prestigious Wall Street Journal Innovation Award, and the company’s CTO has garnered the coveted ACE Award for his work on MEMS technology.

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