BridgeCo Inc, a provider of digital home networking processors and software, has raised $23m in a Series D funding round as the demand for bridging technologies in the home increases.
The funding was led by Advent Venture Partners and Wellington Partners, along with existing investors Benchmark Capital, Cipio Partners (formerly Infineon Ventures), Earlybird Venture Capital, Fidelity Ventures, and Intel Capital.
Martin McNair, a general partner of Advent Venture Partners also joined BridgeCo’s board of directors, and the funding will be used to accelerate market adoption and product development activities.
BridgeCo was founded in February 2000, and was based in Zurich, Switzerland. It has recently opened its global headquarters in Los Angeles, California, but maintains an R&D center in Zurich. It also has sales and marketing offices in London, Taipei, and Tokyo, and satellite development teams in Moscow and Bangalore. More than 25% of the R&D team are PhDs, and the company employs 70 people.
Its previous funding round was in July 2004, when it closed $16m in a Series C funding round.
BridgeCo builds semiconductors and develops software that enables consumer electronics devices and PCs to communicate. It offers a variety of standards-based wired and wireless network capabilities and signal processing capabilities for audio/video receivers, musical instruments, multimedia loudspeakers, and digital video devices such as set-top boxes, DVD players/recorders, and television sets.