Chipmaker Stretch Receives $10 Million Investment

Author: John Honovich, Published on Nov 10, 2009

Stretch Inc, a manufacturers specializing in more flexible and powerful chipsets for the video surveillance market, announced a $10 Million USD investment. This follows a $15 Million round in 2009 and an additional $15 Million round in March 2008. Total funding to date is $126 Million.

In conjunction with the announcement, Stretch noted strong financial growth with revenue increasing 400% between Q2 09 and Q3 09. Stretch targets an additional 300% increase between Q3 09 and Q4 09. Stretch credits this to a number of major OEM customers launching new products using their chipsets. Stretch did not disclose specific revenue numbers so it's not possible to know how significant this is from a market share perspective.

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