Twisted Pair Solutions, Inc. Secures $9 Million In Series A Funding

Tymphany™ Corporation, the industry’s leading provider of innovative audio transducers, recently announced that it has received $13 million in funding from new investor American Capital Strategies Ltd. American Capital’s investment takes the form of convertible preferred equity. The investment is being used to provide working capital for the expansion of Tymphany’s China operations and to support further product development and penetration of new markets. Greg Smitherman, American Capital Managing Director, will be joining Tymphany’s Board of Directors. VantagePoint Venture Partners, Tymphany’s main investor, also participated in the financing round.

“Tymphany is the Technology Group’s second direct investment since its formation,” said American Capital Managing Director Gordon O’Brien. “We are delighted to be backing a first-class management team whose members have superlative reputations for innovation, design and customer service. We are confident in Tymphany’s long-term prospects, and in the growing need for quality audio in the lifestyle consumer electronics markets that Tymphany is addressing.“

“One of the things that makes Tymphany such an attractive investment is that it is truly a hybrid of an early- to mid-stage start-up and an older, established company,” said American Capital Managing Director Virginia M. Turezyn. “Through its astute merger with Danish Sound Technology (DST) a year and a half ago, Tymphany went from no history in the audio industry to a respected history dating back over 80 years. The merger brought top acoustical engineers, manufacturing facilities in both Denmark and China, and an amazing installed base of customers that includes many of the world’s leading speaker brands. The depth of its audio engineering talent and manufacturing capabilities, combined with a well-defined strategy for entering new markets, make Tymphany a compelling new addition to our portfolio.”

“This investment allows Tymphany to complete its transfer of manufacturing operations to China, a move that is producing a winning combination of unparalleled innovation and engineering with low cost production,” said American Capital Managing Director and new Tymphany board member Greg Smitherman. “The first applications of the Tymphany LAT have arrived on the market and have already proven the value of their compact, vibration-free design. With smaller versions of the LAT in development, it will be exciting to see and hear the impact of this subwoofer on other products, such as flat panel TVs and MP3 docking stations.”

“American Capital’s appreciation for our business, its experience in the technology sector and its flexible capital make it the perfect investment partner for Tymphany,” said Tymphany’s Chairman, CEO and President, Mike Hackworth. “Its support enables us to pursue the vast potential of our innovative new technologies more aggressively, and to invest in the expansion of our world-class manufacturing facility in China. As we expand our reach into the lifestyle consumer electronics markets, it’s very important that we support our customers with high volume, high quality production capabilities to match their own volume and quality standards.”