C Level Design Completes $3.1 Million Second Round Financing From Band of Angels and Sofinnova; Former Cadence Executive Doug Fairbairn Joins Board of Directors.SAN JOSE, Calif.--(BUSINESS WIRE)--Sept. 27, 1999-- C Level Design, Inc. today announced that it has closed a $3.1 million round of new funding from several investors, including members of the Band of Angels, the associated Band of Angels Fund of Palo Alto, Calif., and Sofinnova Ventures, Inc. of San Francisco, the company's first round lead investor. In addition, several individuals, leaders from the semiconductor industry, participated in this second round of funding. "C Level Design's software represents a paradigm shift A dramatic change in methodology or practice. It often refers to a major change in thinking and planning, which ultimately changes the way projects are implemented. For example, accessing applications and data from the Web instead of from local servers is a paradigm shift. See paradigm. in the way electronics are designed. It will be a cornerstone of the infrastructure necessary to enable engineers to keep pace with accelerating design complexity as described by Moore's law "The number of transistors and resistors on a chip doubles every 18 months." By Intel co-founder Gordon Moore regarding the pace of semiconductor technology. He made this famous comment in 1965 when there were approximately 60 devices on a chip. ," explained Dr. Ian Sobieski, general partner of the Band of Angels Fund, L.P. C Level Design will use the capital to continue aggressive expansion of its R&D and marketing efforts. Previously this year, the company named Seiko Instruments as its exclusive distributor for Japan and created a dynamic sales team to develop its U.S. and European business. Fairbairn Joins Board C Level Design also announced today that Doug Fairbairn, a highly respected leader in the semiconductor and 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. industries, has joined the company's board of directors. Fairbairn brings the perspective of many years as an executive in the semiconductor/IP, EDA, and embedded systems industries. He also serves on the boards of SiliconX.com, Mainbrace, and the Software Development Forum and is currently an independent management consultant, working primarily with start-up and development-stage companies in Silicon Valley. "C Level Design is in a great position to capitalize on the increasing demand for new system-level design tools," said Fairbairn. "It is the first company to offer the market an outstanding system-level synthesis product, which has full ANSI C capability. The company also brings a great team to the table. As a board member, I expect to contribute in the areas of business, marketing, and sales strategies and help grow the company into a leader in the system-level tools market." Most recently, while at Cadence Design Systems (company) Cadence Design Systems - A company that sells electronic design automation software and services. http://cadence.com/. See also Verilog. , Inc. (NYSE NYSE See: New York Stock Exchange :CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network. ) from 1994-1998, Fairbairn served as general manager of the Alta Group, vice president of embedded software services, and president of the Virtual Socket Interface Alliance (VSIA VSIA Virtual Socket Interface Alliance ). Earlier, Fairbairn was a founder of VLSI Technology (NYSE:PHG) in 1980 and served as general manager of the 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. division from 1987-1990. He left VLSI VLSI: see integrated circuit. (1) (Very Large Scale Integration) Between 100,000 and one million transistors on a chip. See SSI, MSI, LSI and ULSI. (2) (VLSI Technology, Inc., Tempe, AZ, www.semiconductors. in 1990 to found Redwood Design Automation (a venture-funded software startup), where he was 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. until Redwood's acquisition by Cadence in 1994. About Band of Angels The Band of Angels is a formal group of 125 former and current high tech executives and entrepreneurs who provide counsel and capital to startup companies. Prior to the monthly meeting where three start-ups are considered, many companies are vetted with a thorough diligence process that taps the special skills, knowledge, and experience of the Band's seasoned membership. Companies that receive investment also receive the benefit of contacts and mentorship from the same people who helped build Silicon Valley. To date, the Band has placed $48M into more than 100 startup companies. Institutional support for portfolio companies, such as bridge financing and follow-on rounds, is provided by the Band of Angels Fund, L.P., a venture capital fund made up of institutional partners, and by the numerous venture capitalists with close ties to the Band. To date, more than $250+M has been placed in Band portfolio companies in such follow-on inically reduce the time it takes to move from al and then automatically compile their designs to HDL (Hardware Description Language) A language used to describe the functions of an electronic circuit for documentation, simulation or logic synthesis (or all three). Although many proprietary HDLs have been developed, Verilog and VHDL are the major standards. code that is compatible with industry standard synthesis tools from Synopsys, Cadence, and Mentor Graphics. For more information, visit: http://www.cleveldesign.com. |
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