CebaTech Inc. Announces Series-B Investment; Industry Pioneer in Realizing Communications Protocol in Silicon Announces Next Round of Funding.RED BANK, N.J. -- CebaTech Inc., a New Jersey based company, announced it has closed a $4.5M Series-B round of financing. NJTC NJTC New Jersey Technology Council NJTC New Jersey Trails Conservancy Venture Fund and 2M co-led the round along with existing investor SAS (1) (SAS Institute Inc., Cary, NC, www.sas.com) A software company that specializes in data warehousing and decision support software based on the SAS System. Founded in 1976, SAS is one of the world's largest privately held software companies. See SAS System. Investors, which invested in Series-A round of financing in May 2004. Robert Chefitz, partner, NJTC Venture Fund and Steven D. Leeke, partner, 2M Technology Ventures, join CebaTech's board of directors, which also includes Tim Sullivan, founding 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. of CebaTech, Ramana Jampala, partner, SAS Investors, and Jay Fahey, general manager, Lucent's Metro Access business unit. Chad Chad (chăd, chäd), Fr. Tchad, officially Republic of Chad, republic (2005 est. pop. 9,826,000), 495,752 sq mi (1,284,000 sq km), N central Africa. Spackman, CebaTech founder and former president of Sandgate Technologies serves as the company's vice president and chief technology officer. While reiterating the company continues to be in stealth-mode, Tim Sullivan did elaborate by saying, "Initial CebaTech products will supplement standard 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. approaches by leveraging software development environments and languages to accelerate the designs of complex communication protocols into silicon." Commenting on the investment opportunity, Robert Chefitz noted, "Tim is leading an exceptional team hand-picked from his previous experience. It is rare to find a team of such similar caliber who have worked together to consistently deliver successful products." Chefitz added, "In addition to revolutionizing the way communication chips are designed, the team is targeting to realize paradigm-shifting protocol-based communication products in the IPSec/iSCSI/Packet-Filtering space." When evaluating the investment, 2M Technology Ventures turned to a top tier IC company to put CebaTech's technology and value proposition to the test. "Their response was 'When can we give Cebatech some designs to work on?' It is hard to beat that kind of customer enthusiasm." said Steven Leeke. "Cebatech has an eager audience in the marketplace because they are solving an important customer need." Describing the investment opportunity Ramana Jampala said "Tim was an Entrepreneur-in-Residence at SAS Investors in 2003. His credibility was well complemented by a top notch notch (noch) incisure; an indentation on the edge of a bone or other organ. aortic notch dicrotic n. cardiac notch 1. team that had more than a dozen IC design wins in the last decade, and the industry pain-point related to simulating and testing communication protocols with existing EDA tools is a well recognized one. These factors led us to close the Series-A investment in less than 75 days when Tim had pitched the Series-A investment opportunity to SAS Investors a year ago. Since then CebaTech team has surpassed all our expectations." About CebaTech CebaTech Inc., based in Red Bank, NJ focuses on business offerings that accelerate the development of complex communication protocols into silicon. CebaTech's products include the enabling EDA tool suites as well as high value IP block products made possible by their usage. For more information, visit www.cebatech.com. About 2M Technology Ventures 2MTV MTV in full Music Television U.S. cable television network, established in 1980 to present videos of musicians and singers performing new rock music. MTV won a wide following among rock-music fans worldwide and greatly affected the popular-music business. invests in early-stage, high technology firms. 2MTV focuses on businesses using technology to solve well-understood market needs. The firm provides advice and assistance to its portfolio companies on matters ranging from strategy and technology to staffing and fundraising
About NJTC Venture Fund NJTC Venture Fund is an $80M early stage venture capital fund investing in promising companies located in the New Jersey region. Industries of interest include communications, energy, information technology, healthcare/life sciences, and materials. NJTC Venture Fund will invest $250K - $5M per company and supports its portfolio with an unparalleled network of local, active partners and advisors. NJTC Venture Fund is seeking new investments in seed and early stage companies. About SAS Investors SAS Investors (formerly known as Silicon Alley An area in New York that has become known for its companies devoted to multimedia and the Internet. It is located in Manhattan's "Soho" district, which does not stand for Small Office Home Office, rather it is SOuth of HOuston Street. Seed Investors) facilitates the creation and growth of seed and early-stage core technology companies in the Mid-Atlantic and Northeast regions. Located in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. and backed by Canaan Partners, Rho Capital Partners, and Sevin Rosen Funds Sevin Rosen Funds (SRF) is a venture capital firm that was established in 1981 by L.J. Sevin and Ben Rosen. SRF was involved in the financing of ArQule, CIENA, Citrix, Cypress Semiconductor, Electronic Arts, Lotus Development Corporation, Silicon Graphics, and Vitesse. , SAS Investors targets companies that provide solutions based on technologies emerging out of tech transfer centers, universities, and/or corporate labs. For more information, visit www.sasinvestors.com. |
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