DSP Concepts Tunes In to $28 Million Series C

<p><strong><span class&equals;"xn-location">SANTA CLARA<&sol;span><&sol;strong> &&num;8212&semi; <u>DSP Concepts<&sol;u>&comma; creator of the Audio Weaver platform that powers sound and voice features in many of the world&&num;8217&semi;s leading consumer and automotive brands&comma; has successfully closed <span class&equals;"xn-money">&dollar;28 million<&sol;span> in Series C funding&period;<&sol;p>&NewLine;<div class&equals;"col-sm-10 col-sm-offset-1">&NewLine;<p>The investment was led by entrepreneur investor&comma; Mr&period; <span class&equals;"xn-person">Yuchun Lee<&sol;span>&comma; with participation from new and previous investors including Sony Innovation Fund&comma; Subaru&comma; Porsche Digital&comma; and others&period; The Series C funding will fuel DSP Concepts&&num;8217&semi; continued growth and bring its total investment secured to <span class&equals;"xn-money">&dollar;55 million<&sol;span>&period;<&sol;p>&NewLine;<&sol;div>&NewLine;<div class&equals;"col-sm-10 col-sm-offset-1">&NewLine;<p><span class&equals;"xn-person">Yuchun Lee<&sol;span> has now joined DSP Concepts as Executive Chairman&period; Mr&period; Lee has many years of CEO experience scaling companies ranging from start-ups to publicly traded firms with special focus on building businesses into successful market leaders&period; Currently&comma; Mr&period; Lee is the CEO of Allego&comma; the leading sales enablement platform provider&semi; an Executive Partner with venture capital firm General Catalyst Partners&semi; and a member of the board of directors of Vertex Pharmaceutical&comma; a Fortune 500 company&period;<&sol;p>&NewLine;<p>&&num;8220&semi;DSP Concepts&&num;8217&semi; unique technology and audio engineering talents have made it the clear leader in the emerging Audio of Things market&&num;8221&semi;&comma; Mr&period; Lee said&period; &&num;8220&semi;Leading companies in the automotive and consumer electronics industries rely on DSP Concepts solutions when they need to rapidly and reliably embed sound and voice features into their products&period; DSP Concepts&&num;8217&semi; technology is quickly becoming the industry standard because it can dramatically reduce product development time and cost while appreciably improving audio performance and processing efficiency&comma; opening up additional opportunities for product innovation&period;&&num;8221&semi;<&sol;p>&NewLine;<p>&&num;8220&semi;These additional funds will provide significant support to our continued expansion&comma;&&num;8221&semi; said <span class&equals;"xn-person">Chin Beckmann<&sol;span>&comma; CEO and co-founder of DSP Concepts&period; &&num;8220&semi;We have grown our revenue by more than 100&percnt; since 2019 and are seeing our growth accelerate into 2022&period; The additional funding will help us keep ahead of audio technology trends and continue our effort in solving challenging acoustic and engineering problems for our customers and partners&period;&&num;8221&semi;<&sol;p>&NewLine;<p>DSP Concepts equips and supports engineers with real-time workflows to quickly stand up prototypes&comma; collaborate and modify designs across teams&comma; and deploy to the most popular chipsets from leading semiconductor companies including NXP&comma; Qualcomm&comma; STMicroelectronics&comma; Cadence&comma; Arm&comma; and others&period; DSP Concepts technologies are embedded in millions of automotive and consumer products&comma; delivering remarkable Audio Experience solutions to prestigious brands including Bang &amp&semi; Olufsen&comma; BMW&comma; Braun&comma; Facebook&comma; Garmin&comma; GoPro&comma; LG&comma; <span class&equals;"xn-person">Mercedes Benz<&sol;span>&comma; Panasonic&comma; Peloton&comma; Porsche&comma; Samsung&comma; Sennheiser&comma; Spotify&comma; Tesla&comma; and many more&period;<&sol;p>&NewLine;<&sol;div>&NewLine;