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Fast forward for Lumenpulse

10 August 2011 16.30 BST

(Canada) - Lumenpulse receives $16 million financial backing from group including investment bank to increase market share.

Lumenpulse, the Montreal-based manufacturer of architectural LED-based lighting solutions, has completed a $16 million Series A equity and debt round to be used to support the growth of Lumenpulse and to extend market and product development. This equity investment came from a select group of private investors and includes participation from the Company’s management and board of directors. In addition, this financing includes a new term loan and working capital line of credit from Silicon Valley Bank (SVB).
Founded in 2006, Lumenpulse is establishing a leadership position within the LED fixtures market based on significant demand for its award-winning product families. In 2011, its specification-grade, sustainable products have won a number of prestigious awards including an Innovation Award at Lightfair and two PIA Gold Medals awarded by Architectural SSL Magazine. As a result, orders for the Company’s products continue to increase throughout North America; recent key landmark projects such as BC Place Stadium in Vancouver, the Yale-New Haven Hospital atrium, the "Lantern of Hope" at Banner MD Anderson Cancer Center in Gilbert, AZ, and BMW US Headquarters in New York all chose Lumenpulse to achieve their lighting goals.
"The LED fixtures market is projected to triple over the next three years, reaching $9B by 2014 according to Strategies Unlimited,” said François-Xavier Souvay, Founder, President and CEO of Lumenpulse. “Based on the growing worldwide opportunity for our products, we are now focused on bringing the vision of the company to life for our clients, with cutting-edge architectural LED fixtures that meet the needs of architects and lighting designers from a design, performance and a sustainability perspective. This financing allows us to invest in international market expansion ahead of plan, to further enhance our product development capabilities and to ensure our manufacturing strategies and capacity are solidly in place to meet the accelerating demand for our products."
"We've been impressed by Lumenpulse's vision and growth as well as its ability to manage its trajectory, which in part seems due to its ability to recruit an experienced management team," said David Rodriguez, Senior Relationship Manager with Silicon Valley Bank in Boston. "We look forward to continuing to support their success.”


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