SANTA CLARA — DSP Concepts, creator of the Audio Weaver platform that powers sound and voice features in many of the world’s leading consumer and automotive brands, has successfully closed $28 million in Series C funding.
The investment was led by entrepreneur investor, Mr. Yuchun Lee, with participation from new and previous investors including Sony Innovation Fund, Subaru, Porsche Digital, and others. The Series C funding will fuel DSP Concepts’ continued growth and bring its total investment secured to $55 million.
Yuchun Lee has now joined DSP Concepts as Executive Chairman. Mr. 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. Currently, Mr. Lee is the CEO of Allego, the leading sales enablement platform provider; an Executive Partner with venture capital firm General Catalyst Partners; and a member of the board of directors of Vertex Pharmaceutical, a Fortune 500 company.
“DSP Concepts’ unique technology and audio engineering talents have made it the clear leader in the emerging Audio of Things market”, Mr. Lee said. “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. DSP Concepts’ 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, opening up additional opportunities for product innovation.”
“These additional funds will provide significant support to our continued expansion,” said Chin Beckmann, CEO and co-founder of DSP Concepts. “We have grown our revenue by more than 100% since 2019 and are seeing our growth accelerate into 2022. 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.”
DSP Concepts equips and supports engineers with real-time workflows to quickly stand up prototypes, collaborate and modify designs across teams, and deploy to the most popular chipsets from leading semiconductor companies including NXP, Qualcomm, STMicroelectronics, Cadence, Arm, and others. DSP Concepts technologies are embedded in millions of automotive and consumer products, delivering remarkable Audio Experience solutions to prestigious brands including Bang & Olufsen, BMW, Braun, Facebook, Garmin, GoPro, LG, Mercedes Benz, Panasonic, Peloton, Porsche, Samsung, Sennheiser, Spotify, Tesla, and many more.
