Everspin Increases Series B Funding to $29M With Strategic Investments From GLOBALFOUNDRIES and Western Digital Capital

GLOBALFOUNDRIES and Western Digital Capital join New Venture Partners, Lux Capital, Sigma Partners, Epic Ventures, and Draper Fisher Jurvetson in Everspin’s Series B Round

CHANDLER, Ariz., Jan 26, 2015 -- Everspin Technologies, Inc., the world's leading developer and manufacturer of discrete and embedded MRAM, today announced that the company has closed its $29 Million (USD) Series B round of venture capital and strategic investment. New Everspin strategic investors include GLOBALFOUNDRIES and Western Digital Capital, joining current investors New Venture Partners, Lux Capital, Sigma Partners, Epic Ventures, and Draper Fisher Jurvetson. The close of the Series B round follows the recently announced partnership between Everspin and GLOBALFOUNDRIES for the supply of fully-processed 300mm Spin Torque MRAM wafers at the 40nm and 28nm technology nodes.

Western Digital Capital is the investment arm of Western Digital Corp., a global provider of products and services that empower people to create, manage, experience, and preserve digital content. The strategic investment recognizes the important role that ST-MRAM will play in the development of high-performance storage architectures and systems with ultra-low latency and increased reliability.

“Everspin is investing heavily in advanced technology, higher densities, volume scalability, and a pervasive ecosystem to further enable ST-MRAM adoption and continue our history of rapid revenue growth,” said Phill LoPresti, President and CEO of Everspin Technologies. “With a leading worldwide foundry and storage customer participating in Everspin’s Series B investment round, the entire industry spectrum is acknowledging ST-MRAM as the leading contender to drive beyond the limits of current mainstream memory.”

About Everspin Technologies

Everspin Technologies is the worldwide leader in designing, manufacturing, and commercially shipping discrete and embedded Magnetoresistive RAM (MRAM) and Spin-Torque MRAM (ST-MRAM) into markets and applications where data persistence and integrity, low latency, and security are paramount. With over 40 Million MRAM and ST-MRAM products deployed in data center, cloud storage, energy, industrial, automotive, and transportation markets, Everspin has built the strongest and fastest growing foundation of MRAM users in the world. With an intellectual property portfolio of more than 500 active patents and applications, Everspin leads the market in development of both in-plane and perpendicular magnetic tunnel junction (MTJ) ST-MRAM bit cells. Everspin has established high-quality manufacturing worldwide, along with enabling a full turn-key 300mm high-volume foundry partner for advanced technology nodes including 40nm, 28nm and beyond. In addition to launching discrete memory solutions with new densities and advanced interfaces, including the world’s first commercialization and volume shipments of ST-MRAM, Everspin is delivering on the company’s strategy to proliferate MRAM and ST-MRAM as mainstream embedded memories for use in MCUs, GPUs, DSPs, Application Processors, and ASICs, earning Everspin its description as “The MRAM Company”. www.everspin.com