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Atrenta Secures $16M in Series D Funding |
Atrenta, a leading provider of broad-based design analysis solutions with the industry standard SpyGlass technology, has secured $16 million in new equity financing. Investor Growth Capital led the financing in the Series D round. Samsung Ventures and Hercules Technology Growth Capital, Inc. joined existing investors Venrock Associates, TL Ventures, Smart Technology Ventures, Investcorp Technology Ventures, and Finaventures in the financing round.
In conjunction with the financing, Jose Suarez of Investor Growth Capital has joined Atrenta's Board, and Bill Byun of Samsung Ventures has joined as an Observer on the Board. The funds will be used to fuel the company's continued growth by expanding Atrenta's product offerings in chip design software and its worldwide presence for sales and support.
"EDA is going through an interesting transformation with the migration to higher levels of abstraction, presenting exciting opportunities for visionary technology companies like Atrenta," said Jose Suarez of Investor Growth Capital. "Atrenta is uniquely positioned to lead in the marketplace with its new class of automation tools for early design analysis and implementation methodologies. Atrenta has achieved significant traction in the EDA software space, evidenced by its expanding roster of customers and partners. The company's value proposition of early design closure addresses concerns that are critical to its customers' success, and it fits perfectly with our present portfolio of innovative technology companies delivering elegant solutions to recognized bottlenecks in semiconductor development. We are committed to contributing to Atrenta's long-term success and are pleased to lead in this round of funding," Jose said.
"Samsung is excited to assist Atrenta in fulfilling its vision of helping chip designers with early design closure," said Bill Byun of Samsung Ventures. "Atrenta is the first EDA company we have invested in, and we selected them based on their product leadership and outstanding customer traction that includes all the top semiconductor companies worldwide," Bill said.
"Our growth and continued success is the result of the recognition we have received with our novel offering in EDA," said Dr. Ajoy Bose, Chairman, President and CEO of Atrenta Inc. "When we founded Atrenta, we knew that the key to unlocking design productivity in the near future rested in early design closure tools. We pioneered RTL Predictive Analysis with SpyGlass and rapidly evolved the tool, transforming design development into a continuous realization of design closure at the RTL phase. Our success with over 100 companies, including all of the top semiconductor companies in the world, demonstrates that we are offering a value that the semiconductor industry appreciates. We will use the additional capital to extend our solution and expand our markets to take the company to the next level," Ajoy said.
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