0-In Raises $8M to Expand Product Portfolio; Investment Also Aids International Expansion.Business Editors/High-Tech Writers SAN JOSE, Calif.--(BUSINESS WIRE)--Dec. 12, 2001 Today 0-In Design Automation, Inc., the leader in white-box verification technology, announced closure of an $8M round of equity financing that will accelerate development of new products and support expansion into new worldwide markets. The financing was led by a $4M investment from the meVC Draper Fisher Jurvetson Draper Fisher Jurvetson (DFJ) is a venture capital firm based in Menlo Park, California with affiliate offices in more than 30 cities around the world and over $4.5 billion in capital commitments. Fund I, an information technology venture capital fund providing individual investors access to venture capital investments (NYSE NYSE See: New York Stock Exchange : MVC (Model View Controller) An architecture for building applications that separate the data (model) from the user interface (view) and the processing (controller). ). Current 0-In investors also participating in this round included Adams Street Partners, Canaan Partners, CMEA CMEA Council for Mutual Economic Assistance CMEA Cellular Message Encryption Algorithm CMEA Canadian Music Educators' Association CMEA Council for Mutual Economic Aid CMEA Certified Machinery Equipment Appraiser CMEA Colorado Music Education Association Ventures, Sigma Partners and Sprout Group. Investment Reflects Customer Success with 0-In's Products "We are excited about the prospects of our investment in 0-In, a company which boasts an impressive list of customers and venture investors," said John M. Grillos, Chairman, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and Managing Member of the meVC Draper Fisher Jurvetson Fund I. "We believe that the company's proprietary technology and exceptionally strong management team, composed of industry veterans with proven entrepreneurial track records, make 0-In an attractive investment for the Fund." 0-In Provides Effective Solutions for Complex Verification Problems "Effective, thorough functional verification is becoming an increasingly difficult challenge for complex system-on-chip (SoC) designs," commented Dr. L. Curtis Widdoes, CEO of 0-In. "An investment by the meVC Draper Fisher Jurvetson Fund I, along with other top-tier venture firms will help 0-In further develop its functional verification product line and maintain a leadership role in the EDA (1) (Electronic Design Automation) Using the computer to design, lay out, verify and simulate the performance of electronic circuits on a chip or printed circuit board. industry. Additionally, 0-In is finding a great deal of interest in our products in Asia and Europe. This investment will allow us to accelerate our expansion into international markets beyond Japan and the United States, where we already have many successful customers." About the meVC Draper Fisher Jurvetson Fund I, Inc. meVC Draper Fisher Jurvetson Fund I, Inc., an information technology venture capital fund, was formed through a collaborative effort between meVC, a Delaware corporation, and Draper Fisher Jurvetson, a leading venture capital firm. The Fund's investment objective is long-term capital appreciation from venture capital investments in information technology companies, primarily in the Internet, e-commerce, telecommunications, networking, software and information services industries. Additional information on the Fund and its investments may be obtained by writing to meVC Draper Fisher Jurvetson Fund I, Inc., 991 Folsom Street, San Francisco, California “San Francisco” redirects here. For other uses, see San Francisco (disambiguation). The City and County of San Francisco (EN IPA: [sænfrənˈsɪskoʊ] 94107, Attention: Secretary, via the Web site at www.meVC.com or by calling 877/474-meVC (6382). About meVC, Inc. meVC is the first venture capital investment management firm to provide all individual investors access to private equity investments. meVC plans to sponsor a family of venture capital funds Venture Capital Funds An investment fund that manages money from investors seeking private equity stakes in small and medium-size enterprises with strong growth potential. Notes: that invest in various venture capital industry sectors and geographic regions. In March of 2000, meVC launched its first Fund, a $330 million venture capital fund emphasizing investments in information technology companies. The Fund is publicly traded on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the symbol "MVC." The company is headquartered in San Francisco, Calif., and can be reached via the Web site at www.meVC.com or by calling 415/977-6150. About 0-In 0-In Design Automation, Inc. (pronounced "zero-in") is a privately held electronic design automation (EDA) company providing functional verification products that help verify multi-million gate ASIC (Application Specific Integrated Circuit) Pronounced "a-sick." A chip that is custom designed for a specific application rather than a general-purpose chip such as a microprocessor. and SOC designs. 0-In was founded in 1996 and is based in San Jose, Calif., with sales offices in Scituate, Mass., and Austin, Texas, plus distribution in Japan through Pacific Design Inc. Leading-edge companies that have adopted 0-In tools and methodologies include AMD (Advanced Micro Devices, Inc., Sunnyvale, CA, www.amd.com) A major manufacturer of semiconductor devices including x86-compatible CPUs, embedded processors, flash memories, programmable logic devices and networking chips. , Avaz Networks, Compaq, Fujitsu, HP, Hitachi, Hughes, Lucent, National Semiconductor, Nortel, Sun, Tensilica, Teradiant Networks and others. More information on 0-In is available at http://www.0-in.com Note to Editors: 0-In(TM) and CheckerWare(TM) are trademarks of 0-In Design Automation, Inc. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion