Atrenta Closes up Round Series B Financing; Investment Will Help to Drive Development of New Products and Expand Sales Efforts.Business Editors SAN JOSE San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. , Calif.--(BUSINESS WIRE)--Aug. 5, 2003 Atrenta(TM) Inc., the Predictive Analysis Company, announced the closing of its Series B financing of $5.3 million, bringing the total amount raised to date to over $17 million. The round was led by Smart Technology Ventures, a leading early stage venture capital fund based in Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, , marking its first investment in Atrenta. Also participating were Series A investors, Venrock Associates, TL Ventures and Finaventures. Funds raised in this financing will be used to expand Atrenta's research and development efforts and to support and expand the customer base for its SpyGlass Predictive Analysis tools. Atrenta was represented in the financing by Pillsbury Winthrop's Palo Alto Palo Alto, city, California Palo Alto (păl`ō ăl`tō), city (1990 pop. 55,900), Santa Clara co., W Calif.; inc. 1894. Although primarily residential, Palo Alto has aerospace, electronics, and advanced research industries. office. "Atrenta's award-winning product, impressive list of successful customers, and strong management team make it a first-rate investment and 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. company to watch," said David Nazarian, Managing Member, Smart Technology Ventures. "The company's innovative SpyGlass Predictive Analysis platform continues to rapidly gain customers because it has demonstrated a unique and compelling value to chip designers worldwide." "We are very grateful for the high level of confidence that Smart Technology Ventures and our existing investors have placed in us," said Dr. Ajoy Bose, Atrenta's chairman, president and 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. . "The fact that we were able to raise additional capital at an increased valuation and favorable terms in the current economic environment is a strong endorsement of our technology and business strategy. The additional funds will help lead us in achieving our long-term goals Long-term goals Financial goals expected to be accomplished in five years or longer. and vision and take the company to the next level." About Atrenta Atrenta delivers predictive analysis solutions to the world's leading electronics companies, including eight of the top ten semiconductor companies. Its pioneering and award-winning SpyGlass Predictive Analysis tools accelerate the design of SoCs, ASICs, and FPGAs by detecting complex chip design problems that are not easily identified with conventional verification methods. During the past year, SpyGlass has been recognized with several distinguishing awards, including EDN magazine's Top 100 products for 2002 and "LSI LSI: see integrated circuit. (Large Scale Integration) Between 3,000 and 100,000 transistors on a chip. See SSI, MSI, VLSI and ULSI. Design of The Year 2002" award by Japan's Semiconductor Industry News. Atrenta was also chosen by Venture Reporter as one of the top 100 venture-backed companies for 2002 and recently named by AlwaysOn, as one of the Top 100 private companies. Atrenta, with headquarters in San Jose, California San Jose (IPA: /ˌsænhoʊˈzeɪ/) is the third-largest city in California, and the tenth-largest in the United States. It is the county seat of Santa Clara County. , employs over one hundred people worldwide. It has European offices in England and France, a research and development center in India, and sales and support distributors in Central Europe Central Europe is the region lying between the variously and vaguely defined areas of Eastern and Western Europe. In addition, Northern, Southern and Southeastern Europe may variously delimit or overlap into Central Europe. , India, Israel, Japan, Korea, Singapore, Taiwan, and United Kingdom. For further information, visit the Atrenta website at www.atrenta.com, email moreinfo@atrenta.com, or call 408-453-3333. Atrenta is a trademark and SpyGlass is a registered trademark of Atrenta Inc. All other trademarks belong to their respective owners. |
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