CREDO Announces Close of $100 Million Series D Preferred Financing as it Continues to Lead in High Performance Networking Connectivity Solutions

Funds and Accounts Managed by BlackRock Lead Investment Round to Satisfy Explosion in Network Bandwidth Demand

San Jose, Calif. June 16, 2020 – Credo, a global innovation leader in high performance, low power serial connectivity solutions, today announced the Company has closed a Series D Preferred financing round of $100M. Funds and accounts managed by BlackRock led the round. Credo will use the funding to accelerate commercialization of its breakthrough 400Gbps and 800Gbps connectivity solutions for the Hyperscale Datacenter and 5G Carrier markets.

“I am thrilled to be joined by a world-class group of investors supporting the continued growth of Credo’s business. The Company’s increasing number of tier one customers and partners indicate Credo has executed on delivering industry leading high-speed serial connectivity solutions and has an impressive roadmap for future success,” said Lip-Bu Tan, Chairman Walden International and Founding Managing Partner of WRVI Capital.

“Raising $100M in this round of funding with support from new and existing investors puts us in a very strong position,” said Bill Brennan, CEO of Credo. “This enables us to accelerate deployment of our current 400Gbps products, as well as to extend our high-speed connectivity leadership with next generation 800Gbps solutions.”

Since its inception, Credo has worked to develop industry-leading serial connectivity solutions. The solutions meet the demanding needs of the highest bandwidth communications end-markets and accelerate the transition to next-generation platforms in those markets.

Credo’s solutions have been adopted and implemented by leading Datacenters, Networking OEMs and ODMs, and Optical Transceiver manufacturers. The Company has pioneered the development and deployment of HiWire™ Active Electrical Cables (AEC). Plug & play AECs deliver the simple functionality and speed of optical cables without the expense and high energy draw of optics. Built-in retiming and fully equalized signals make AEC a high-performance alternative to the risk and hassles of DAC for in-rack and mid-tier interconnects. Credo is a founding member of the HiWire™ Consortium (www.hiwire.org).

About Credo

Credo is a leading provider of high-performance serial connectivity solutions for the hyperscale datacenter, 5G carrier, enterprise networking, artificial intelligence and high-performance computing markets. Credo's solutions deliver the bandwidth, scalability, and end-to-end signal integrity for next generation platforms requiring 25G, 50G, and 100G signal lane-rate connectivity for 100G, 200G, 400G, and 800G port enabled networks.

For more information, please visit: www.credosemi.com.