New York-listed oil services provider Schlumberger has made its second disclosed corporate venturing deal by investing in Samplify Systems.
Samplify raised $11.2m in its series B round from Nasdaq-listed technology company Integrated Device Technology, venture capital firms Charles River Ventures and Formative Ventures as well as Schlumberger.
Charles River and Formative invested $6.5m in Samplify ‘s A round in January 2009.
Ginger Hildebrand, software governance manager for Schlumberger, will go on Samplify’s board. Schlumberger said it had only allowed two of its portfolio companies to announce their involvement.
Tom Sparkman, chief executive (CEO) of Samplify, said: "Samplify has experienced tremendous growth over the last year, driven by the success of new products for its core ultrasound and wireless markets. This funding round fully finances growth in the company’s core markets, and gives us the flexibility to take Samplify’s technology into new markets through our strategic partners."
Ted Tewksbury, CEO of IDT, added: "With this investment, we are looking forward to deeper collaboration with Samplify."
Woodside Capital Partners advised Samplify on the fundraising.