Carbon on the Move with Additional $10M Funding; Matrix Leads Second Round, Former Viewlogic CEO Joins Board.Business Editors/High-Tech Writers WALTHAM, Mass.--(BUSINESS WIRE)--Jan. 13, 2004 Carbon Design Systems -- a fast moving 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 that reduces the time-to-profit for chip companies by enabling pre-silicon system validation -- announced today that in just 90 days, it has raised a $10M series B second round of funding. Carbon further announced that 22 year EDA veteran and former Viewlogic, Innoveda, and Silerity 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. , Will Herman, will immediately join Carbon's board of directors, along with Edgar Masri of Matrix Partners. Participating venture capital firms Name Location Founding date Managing Partners/Directors Specialty Capital managed 5AM Ventures Menlo Park, CA; Waltham, MA 2002 John Diekman, PhD (managing partner), Scott Rocklage, PhD (managing partner), Andrew Schwab (managing partner) life sciences $200M [1] included Matrix Partners and existing series A investors Commonwealth Capital, Flagship Ventures, and Allan Wallack. This round of investment brings Carbon's total financing to $15 million with the series A close in April 2002. "Carbon will use this cash infusion to build out its sales and support structure on a worldwide basis and develop its next generation of products," said Steve Butler Steve Butler (born September 26, 1956 in Amarillo, Texas) was an open-wheel racer who was successful in USAC Sprint Car and Silver Crown racing. Steve currently resides in Kokomo, IN. , president and CEO of Carbon. "We are pleased that Will Herman and Edgar Masri are joining a seasoned Board that includes Allan Wallack, former CEO of Spring Tide Networks and Chrysalis chrysalis (krĭs`əlĭs): see pupa. Symbolic Design." "I'm excited to be working with Carbon and see the parallel to an early Viewlogic breaking new ground," said Will Herman, Carbon Board member. "Validation is a tough problem -- software validation The certification that an information system has been implemented correctly and that it conforms to the functional specifications derived from the original requirements. Such validation is often performed by a third party consulting organization. needs a fast hardware representation to be practical. Until now, silicon has been the only choice, as EDA solutions have fallen short. Carbon changes the rules with its pre-silicon validation strategy." "We invest in companies that have global impact potential and are positioned to be prime movers The Prime Movers were a blues band based in the Detroit area, formed in 1965. Robert Vinopal left soon after the band's formation and was replaced by Jack Dawson. James Osterberg, who would later be known as Iggy Pop, took over the drums not long after. in their space. Carbon is the first EDA vendor to recognize that software validation is just as important as hardware verification to achieve first-turn chip success," said Edgar Masri, a general partner at Matrix Partners. "By enabling validation to be done prior to chip fabrication fabrication (fab´rikā´sh  n),n the construction or making of a restoration. , Carbon reduces the time-to-profit equation for an entire industry." "Carbon has an opportunity to expand the reach of the traditional EDA tools market by delivering a deployable software-only solution for 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 validation," stated Steve Ricci, managing director and vice chairman of Flagship Ventures. "The validation market has been held back by the need for functional silicon before validation can begin in earnest." "We supported Carbon early in its maturation cycle and continue to help them fuel their expansion. We could see they were solving a big problem with enormous upside as the first to establish its brand," noted Stephen McCormack, cofounder co·found tr.v. co·found·ed, co·found·ing, co·founds To establish or found in concert with another or others. co·found of Commonwealth Capital. "With the successful introduction of Carbon's first products at the end of last year, it's time It's Time was a successful political campaign run by the Australian Labor Party (ALP) under Gough Whitlam at the 1972 election in Australia. Campaigning on the perceived need for change after 23 years of conservative (Liberal Party of Australia) government, Labor put forward a to invest in scaling the business." About Will Herman Mr. Herman, a consummate software entrepreneur, was most recently the CEO of Innoveda, Inc. (merger of Viewlogic Systems and Summit Design), a supplier of EDA software tools and services. Will cofounded Viewlogic Systems in 1984 and was the company's senior vice president of engineering responsible for R&D, service, and support before departing in 1992. He rejoined the company as COO in April, 1995 and became its president and CEO a year later. During his tenure at Viewlogic, Herman established the company as the industry's design verification leader and drove revenue to approximately $170 million. During his hiatus from Viewlogic, Herman was president of Scopus Technology, Inc., a leader in providing enterprise-wide customer care solutions. After Scopus, Herman was the president and CEO of Silerity, Inc., an innovative synthesis startup. About Matrix Since its inception in 1977, Matrix Partners has been dedicated to helping outstanding entrepreneurs build successful companies. Matrix finances companies that develop cornerstone technologies in a broad range of sectors including: software, communications equipment, semiconductors, storage, networking, and wireless. With offices in the nation's foremost technology centers -- Boston and Silicon Valley -- Matrix has developed a long-standing base of entrepreneurial know-how coupled with a superior network of industry contacts. Their outstanding track record includes investing over $240 million in start-ups and thirty (30) successful initial public offerings for its portfolio companies. Their approach has propelled it to be one of the most successful venture firms in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . About Flagship Ventures Founded in 1999, Flagship Ventures is an entrepreneurship and venture capital firm comprising a family of funds Family of Funds A group of mutual funds offered by one investment or fund company. Each mutual fund has different characteristics and can range depending on investment objective. Also referred to as a "Mutual Fund Family" or simply a "Fund Family". : OneLiberty Funds, AGTC AGTC Advanced Airport Ground Traffic Control System Funds and NewcoGen Group. Flagship currently invests from $400 million in funds raised in 2000, and manages a total pool of committed capital approaching $600 million. The Flagship Ventures team consists of 31 professionals focused on creating, financing, and building companies in the life science, information technology, and communications sectors. Extending over a period of 20 years, Flagship's entrepreneurship and investment experience comes from founding over 30 successful new ventures while funding and building over 100 more. About Commonwealth Capital Ventures Founded in 1995 by a team of experienced venture capital investors, Commonwealth Capital is a leading early-stage venture capital firm focused on opportunities in the communications infrastructure and software and services sectors. With over $350 million of committed capital under management, the firm's partners have invested in more than 130 high-growth companies that are leaders in their industry categories. Commonwealth Capital's offices are located in Wellesley, MA. About Carbon Carbon is delivering software products that enable pre-silicon system validation, where thousands of users can simultaneously develop and test software on the 'golden' RTL (Register Transfer Level) A high-level hardware description language (HDL) for defining digital circuits. The circuits are described as a collection of registers, Boolean equations, control logic such as "if-then-else" statements as well as complex event sequences; hardware implementation model. For the first time, critical foundation software -- drivers, diagnostics, and firmware A category of memory chips that hold their content without electrical power. Firmware includes flash, ROM, PROM, EPROM and EEPROM technologies. When holding program instructions, firmware can be thought of as "hard software." See flash memory, ROM, PROM, EPROM, EEPROM and FOTA. -- runs at KHz execution speed on the 'golden' model with cycle and register accuracy. This opens the door for system validation and IP deployment to begin much earlier than traditional methods. Carbon Design Systems, Inc. is privately held and funded by Matrix Partners, Flagship Ventures, and Commonwealth Capital. The corporate headquarters is located at 375 Totten Pond Road, Suite 100/200, Waltham, MA. 02451. Telephone: 781.890.1500, Facsimile: 781.890.1711, Email: info@carbondesignsystems.com, Website: www.carbondesignsystems.com Carbon Design Systems is a trademark of Carbon Design Systems, Incorporated. All other companies and products referenced herein are trademarks or registered trademarks of their respective holders. |
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