Raydiance Raises $20M Growth Financing Led by Samsung Ventures

Raydiance, Inc., a Petaluma, CA – based developer of precision manufacturing solutions based on femtosecond laser technology, has raised $20 million in new VC funding. Samsung Ventures led the round, and was joined by return backers Draper Fisher Jurvetson, DFJ-Growth and Greenstreet Partners.  The company has now raised $70M in VC funding.  Raydiance commercialized a fiber-based femtosecond laser technology funded by the Defense Advanced Research Projects Agency and developed in Peter Delfyett’s laboratory at the University of Central Florida’s College of Optics in Orlando.   The company was established in 2003 at UCF’s Technology Incubator by Peter and Jeff Bullington as Ablation Industries, Inc.  In 2004 Ablation Industries changed its name to Raydiance, Inc. and recruited Barry Schuler, former CEO of America Online (AOL), as its new CEO and Chairman of the Board.  The company moved to Petaluma in 2006. Read more here.