Discretix announces $20 million third round funding
Discretix has announced it has raised $20 million in third round financing. The round, in which all current Discretix investors participated, also included a major investment by Discretix' newest investor - Silicon Valley venture fund giant Sequoia Capital. Total outside investment now amounts to $29.8 million.Discretix plans to use this new capital to pursue content protection solutions for the mobile content and enterprise markets.
"Participation in our third round of funding by Discretix' current investors demonstrates the support the company enjoys for its achievements to-date, as well as an endorsement for its future plans," said Gal Salomon, chief executive officer and founder of Discretix. "We welcome the new support for our business activities from Sequoia Capital, not only for the funds it provides but also as an inflection point for our initiatives in the mobile content space."
"Discretix is now entering a growth phase that puts it at the heart of one of the fastest-growing segments of the communications industry," said Randy L. Ditzler partner with Sequoia Capital. "We believe Discretix' solutions will be of great value to content providers, as they are today to semiconductor vendors, handset manufacturers and software application providers."
