Astera Labs Accelerates Company Growth with Series-D Funding and Expanded Board of Directors

November 17, 2022 at 08:48 AM EST

Company growth highlights

Raises $150M from its Series-D funding round led by Fidelity Management & Research
Grows valuation to $3.15B driven by strong customer traction and technology leadership
Expands Board of Directors with visionary leaders from semiconductor and data center industry
Grows its product portfolio with addition of Leo Memory Connectivity Platform for CXL™
Expands global presence with new research and development centers in Toronto and Vancouver, Canada

SANTA CLARA, Calif., Nov. 17, 2022 (GLOBE NEWSWIRE) -- Astera Labs, the industry leader for connectivity solutions for intelligent systems, today shared its progress and momentum to position the company for its next phase of growth. Astera Labs closed its Series-D funding round, expanded its board of directors, added new product lines to its portfolio, and grew its presence globally with new locations and an increased employee base. These milestones represent the strong traction for Astera Labs’ silicon, software, and system-level solutions that help its customers realize the vision of Artificial Intelligence and Machine Learning in the Cloud.

“Astera Labs continues to surpass every milestone for a technology start-up, and we are now deep into the next stage of evolution for our company as we accelerate growth,” said Jitendra Mohan, CEO, Astera Labs. “This latest funding round is a testament that we are not only invested in the right growth markets such as Cloud, Artificial Intelligence/Machine Learning, and Hyperscale infrastructure, but that we are also able to consistently execute and deliver breakthrough connectivity products that are critical to our customers and partners.”

In its Series-D funding round led by Fidelity Management and Research, Astera Labs raised $150M with a $3.15B valuation. Fidelity was joined by other existing investors, including Atreides Management, Intel Capital, and Sutter Hill Ventures.

“Astera Labs has successfully executed on its vision to be the Cloud industry’s trusted connectivity partner,” said Stefan Dyckerhoff, Managing Director at Sutter Hills Ventures, and Board Member of Astera Labs. “I’m extremely impressed by the company’s ability to assert itself as the leader in the Cloud infrastructure market that increasingly demands purpose-built connectivity solutions to remove performance bottlenecks.”

Astera Labs expands Board of Directors with top executives
Astera Labs has elected to its board of directors Dr. Alexis Black Bjorlin, VP of Infrastructure, Meta, and Michael Hurlston, President, and CEO, Synaptics Incorporated.

Alexis Black Bjorlin leads the Infrastructure Hardware team at Meta to drive technology innovation. She brings to Astera Labs expertise in hardware, semiconductors, and systems, and in scaling operations. Prior to Meta, Bjorlin held senior executive positions as SVP and GM of Broadcom’s optical systems division and as Corporate VP of the Data Center Group and GM of the Connectivity Group at Intel.
Michael Hurlston has served as President and CEO of Synaptics since 2019. Previously, he served as CEO and board member of Finisar Corporation and as SVP and GM of the Mobile Connectivity Products/Wireless Communications and Connectivity Division as well as other leadership positions at Broadcom. Astera Labs will be able to tap into Hurlston’s extensive semiconductor technology and business expertise.

“I am pleased to welcome these visionary leaders to the Astera Labs’ Board of Directors,” said Manuel Alba, Chairman of the Board, Astera Labs. “Their passion for transformative technology, combined with expertise in semiconductors, cloud, and the data center industry, will add valued insights to the board and help Astera Labs continue to scale.”

In a short period of five years, Astera Labs has developed three class-defining, first-to-market products to enable higher bandwidth, increased memory capacity and robust connectivity for datacenters through Compute Express Link™ (CXL™), PCIe^®, and Ethernet technologies. Its newest product line – the Leo Memory Connectivity Platform – leverages the new CXL industry standard to support the transition to heterogeneous and composable architectures for next-gen data centers and enable mainstreaming of Artificial Intelligence and Machine Learning in the Cloud.

In 2022, the company also added two new Research and Design Centers in Vancouver and Toronto, Canada, bringing its global footprint to six locations. The new locations enable Astera Labs to hire from Canada’s deep technology talent base to drive product development, customer support, and marketing.

To support its rapidly growing product portfolio and operations, Astera Labs is hiring for several positions in North America and Asia. The team includes industry veterans with deep experience in connectivity products, protocols, customer-centric design, and high-volume manufacturing. To view open positions and apply, visit www.AsteraLabs.com/Careers/.

About Astera Labs
Astera Labs Inc. is a leader in purpose-built data and memory connectivity solutions to remove performance bottlenecks throughout the data center. With locations worldwide, the company’s silicon, software, and system-level connectivity solutions help realize the vision of Artificial Intelligence and Machine Learning in the Cloud through CXL™, PCIe^®, and Ethernet technologies. For more information about Astera Labs including open positions, visit www.AsteraLabs.com.

CONTACT: Lori Zielinski
lori.zielinski@asteralabs.com