Hillcrest Labs Lands $25 Million in Funding
On-Screen Navigation Startup’s Investors Include AllianceBernstein
By Todd Spangler -- Multichannel News, 1/6/2008 4:00:00 PM
LAS VEGAS -- Hillcrest Labs, a developer of on-screen navigation technology, has closed $25 million in a fourth round of funding led by new investor AllianceBernstein, bringing the startup to a total of more than $50 million raised to date.
Existing investors New Enterprise Associates (NEA), Columbia Capital and Grotech Capital Group also participated in the round. Hillcrest said it will use the funds to further extend its pointer-based application platform and pointing technology to devices that control and display digital media.
The Rockville, Md.-based company was founded in 2001. The first commercially available product to use Hillcrest’s Freespace technology is Logitech’s MX Air rechargeable cordless mouse. The company has also approached cable operators and technology vendors about licensing Freespace.
Hillcrest plans to demonstrate its technology at the Consumer Electronics Show at the Las Vegas Convention Center in booth 21531.
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