Stretch Inc., a Sunnyvale, CA-based provider of software configurable processors, announced it has received $10m in mezzanine funding.
The round was led by existing investors Worldview Technology Partners, Oak Investment Partners, and Menlo Ventures.
As stated by Craig Lytle, president and CEO of Stretch, the funds will be used to support increased manufacturing capacity and tape-out of its third generation of devices.
He said: “This last round of funding provides Stretch the financial security to scale our operations and attain profitability”.
The company has more than sixty employees in its offices in Krefeld, Germany, and Tokyo, Japan.