Noble Device Technologies Receives $8 Million Venture Funding

Noble Device Technologies Corp. ("Noble") has raised $8 million in Series A equity financing to expand development of its unique visible/infrared image sensor. The round was led by Matrix Partners with equal participation from North Bridge Venture Partners.

Clifford King, Noble's President and CEO, said, "We are thrilled to attract top-tier financiers Matrix and North Bridge, which have a long track record of building strong companies. Their capital and expertise will help us augment our team to further develop and deliver our imaging products."

Co-Founder and CTO Conor Rafferty said, "With patent-protected technology, a strong engineering team and savvy venture backing, Noble plans to bring infrared imaging to Main Street."

Bryan Ackland, a pioneer in imaging chips, will serve as Noble's Vice President of Engineering.

Stan Reiss of Matrix Partners, and Jeffrey McCarthy of North Bridge Venture Partners, will join King and Rafferty on Noble's Board of Directors. Reiss said, "Noble Device has an outstanding team with diverse backgrounds that have attracted customer and partner attention."

Noble will relocate part of its operations to the Boston area while retaining facilities in New Jersey.

Noble is developing imaging arrays with unique spectral capabilities. Its technological roots are at Bell Laboratories. Early growth was supported by the National Science Foundation, the U.S. Air Force, and the New Jersey Economic Development Authority.

About Matrix Partners

Since 1977, Matrix Partners has been dedicated to helping outstanding entrepreneurs build industry-leading technology companies. Matrix focuses on companies developing cornerstone technologies of the information revolution. Matrix has played a founding role in companies that include Applix, ArrowPoint Communications, Alteon WebSystems, Blue Martini Software, Clarify, FileNet, OnDisplay, Phone.com, SilverStream Software, Sonus Networks, Sycamore Networks, Tivoli Systems, Turnstone Systems, and Veritas Software.

About North Bridge Venture Partners

North Bridge Venture Partners is an active, early-stage venture capital firm based in the Boston area. With approximately $1.8 billion under management, North Bridge focuses on investments in the communications, software and other technology markets. Working closely with entrepreneurs, North Bridge adds value by providing strategic guidance, specific industry knowledge, team-building skills and an in-depth understanding of private and public financings. Past investments include ArrowPoint Communications, Cascade Communications, eRoom Technology, Phase Forward, Solidworks, Sonus Networks, Sycamore Networks and Wellfleet Communications.