PeakStream Secures $17 Million in Funding; Foundation Capital Joins Kleiner Perkins Caufield & Byers and Sequoia Capital as Company Investors

Business Wire, Sept 18, 2006

REDWOOD CITY, Calif. -- PeakStream Inc., a leading software application platform provider for the high performance computing (HPC) market, today announced it has raised a total of $17 million of equity funding from Kleiner Perkins Caufield & Byers, Sequoia Capital and Foundation Capital. The completion of Series B funding allows PeakStream to expedite the introduction of its breakthrough platform. The PeakStream Platform(TM) makes it possible to easily program new high performance processors such as multi-core CPUs, graphics processor units (GPUs) and Cell processors, converting them into radically powerful computing engines for exponentially increased application performance and decreased time-to-solution at reduced cost. The PeakStream Platform enhances the productivity and efficiency of technical computing in the oil and gas, financial services, defense and scientific research markets.

Foundation Capital leads this round of funding, joining the firm's existing investors, Kleiner Perkins Caufield & Byers and Sequoia Capital, who provided initial funding in early 2005. PeakStream also announced that Matt Murphy, partner of Kleiner Perkins Caufield & Byers, Jim Goetz, partner of Sequoia Capital and Adam Grosser, partner of Foundation Capital, have joined PeakStream's board of directors.

"We are delighted to have venture capitalists of this caliber help us build the company," said Neil Knox, CEO and president of PeakStream. "We plan to strategically grow the company and the technology so we can deliver a robust software platform that maximizes the performance advantages of a new generation of industry standard multi-core processors with an easy to use programming platform."

As a new generation of highly parallel processors comes to market, engineers and scientists struggle with new programming models. The PeakStream Platform delivers the industry's first software application platform to program these high performance processors easily and productively. PeakStream technology enables users to achieve unmatched performance and reduced development time for computationally intensive applications critical to oil and gas exploration, financial services, defense and intelligence and other data-dependent industries.

"During the last decade, the computer industry has standardized on commodity processors," said Matt Murphy, partner of Kleiner Perkins Caufield & Byers. "As everything from GPUs to multi-core CPUs become increasingly parallel, and increasingly difficult to program, there is a need for a new software platform to unlock their potential power. PeakStream will redefine the high performance computing market by offering the first application platform for the next generation of processors that allows developers to supercharge their high performance applications."

"We believe that PeakStream will change the way commodity processors are programmed," said Adam Grosser, partner of Foundation Capital. "PeakStream has the management team, the technology expertise and the market position to solve the classic challenges of parallel programming."

About PeakStream, Inc.

PeakStream redefines high performance computing (HPC) by providing an easy to use software application platform that leverages the power of a new generation of industry standard processors. From graphic processor units (GPUs) to Cell to multi-core central processing units (CPUs), PeakStream enables developers to exponentially increase application performance and decrease time to solution. PeakStream is privately held and venture funded by Kleiner Perkins Caufield & Byers, Sequoia Capital and Foundation Capital. The company is headquartered in Redwood City, California.

For more information, visit PeakStream http://www.peakstreaminc.com.

About Kleiner Perkins Caufield & Byers

Kleiner Perkins was formed in 1972 and has served as lead investor in five of the top 10 new Internet companies, including Amazon.com, America Online, @Home, Excite, Healtheon, Intuit and Sportsline. These new Internet companies have added more than $250 billion in value in the last four years.

About Sequoia Capital

Since 1972, Sequoia Capital has provided startup venture capital for very smart people who want to turn ideas into companies. As the "Entrepreneurs Behind the Entrepreneurs," Sequoia Capital's Partners have worked with innovators such as Sandy Lerner and Len Bozack of Cisco Systems, Jerry Yang and David Filo of Yahoo!, Gaurav Garg of Redback Networks, Larry Page and Sergey Brin of Google, Dan Warmenhoven of Network Appliance, T.J. Rodgers of Cypress Semiconductor, Lou Tomasetta of Vitesse Semiconductor, Steve Jobs of Apple Computer and Larry Ellison of Oracle. The companies organized by Sequoia Capital now account for about 10 percent of the value of NASDAQ. To learn more about Sequoia Capital visit www.sequoiacap.com.

About Foundation Capital

Founded in 1995, Foundation Capital is a venture capital firm committed to supporting entrepreneurs and their companies, targeting innovative opportunities in telecommunications and networking; Internet infrastructure; and enterprise software and on demand services. Foundation Capital funds total more than $1.7 billion. For more information, visit www.foundationcapital.com or contact Tim Turpin 415-392-8282, tim@outcastpr.com.