CebaTech Inc. Concludes Series C Investment; Funding Will Be Used to Expand Product Team, Sales, Marketing and Support.EATONTOWN, N.J. -- CebaTech Inc., a start-up aimed at delivering high-value Internet Protocol See Internet and TCP/IP. (networking) Internet Protocol - (IP) The network layer for the TCP/IP protocol suite widely used on Ethernet networks, defined in STD 5, RFC 791. IP is a connectionless, best-effort packet switching protocol. intellectual property cores and breakthrough ESL (1) An earlier family of client/server development tools for Windows and OS/2 from Ardent Software (formerly VMARK). It was originally developed by Easel Corporation, which was acquired by VMARK. technology, today announced the closing of $4 million in Series C financing. The Series C round was led by existing investor 2M Technology Ventures and included all other existing investors: 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 and NJTC NJTC New Jersey Technology Council NJTC New Jersey Trails Conservancy Venture Fund. The new funding will enable CebaTech to focus on productizing ESL compiler technology and Internet Protocol cores developed using the ESL compiler. In particular, the funding allows CebaTech to continue to invest in and expand sales, marketing and the support infrastructure. "CebaTech has a very high caliber management and R&D team who have worked together for almost two decades. This has allowed them to ramp up Ramp Up To increase a company's operations in anticipation of increased demand. Notes: A company might 'ramp up' operations if they just signed a contract creating substantially more demand for their product. See also: Demand, Economies of Scale quickly and grow the business to plan," said Steven Leeke, Partner, 2M Technology Ventures. "CebaTech has met or exceeded expectations, and the company is looking forward to bringing products to market in Q4 '06." The Series C round leaves the company's existing board of directors the same: 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; Jay Fahey, General Manager, Lucent's Metro Access business unit; Steven D. Leeke, Partner, 2M Technology Ventures; Ramana Jampala, Partner, SAS Investors; and Robert Chefitz, Partner, NJTC Venture Fund. "The ESL market has matured over the course of the last three to five years, and CebaTech's ESL compiler technology represents a true-paradigm shift in chip design methodologies," said Ramana Jampala, Partner, SAS Investors. "This team has a proven track record of effectively developing companies and technology and we look forward to their continued success at CebaTech." "NJTC Venture Fund is excited to back an excellent management team which has developed a critical technology in the evolution of chip design," said Robert Chefitz, Partner, NJTC. "The company's ability to integrate multiple standards and proprietary IP on a common design platform is essential to the compositeness of chip and device manufacturers." "This round of funding will accelerate CebaTech's ability to move from a stealth mode Taking place in secret. It often refers to the position that startup companies take when developing a product they feel will be very competitive in the marketplace. They swear everyone to secrecy and keep a very low profile until they are ready to launch. , predominantly R&D-centric organization to a public organization with active sales and marketing infrastructure and activity," said Tim Sullivan, founder and CEO, CebaTech. "The on-going investment in CebaTech by our existing Series B investors reflects their continued confidence that the company's technologies and early customer engagements are progressing well." About 2M Technology Ventures 2M Technology Ventures, L.P. invests primarily in early-stage, high technology firms. 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. focuses on businesses using technology to solve well-understood market needs. 2MTV currently has holdings in the following markets: semiconductors, microdisplays, and wireless communications wireless communications System using radio-frequency, infrared, microwave, or other types of electromagnetic or acoustic waves in place of wires, cables, or fibre optics to transmit signals or data. . For more information, visit http://www.2m.com/investments/investments.htm. 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. For more information, visit http://www.njtcvc.com. About SAS Investors SAS Investors (formerly known as Silicon Alley 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. About CebaTech Founded in early 2004 and headquartered in Eatontown, NJ, CebaTech Inc. develops ESL tools and intellectual property modules that accelerate the development and realization of software algorithms and complex communication protocols in silicon. CebaTech's products will include high-value, 10G TCP/IP TCP/IP in full Transmission Control Protocol/Internet Protocol Standard Internet communications protocols that allow digital computers to communicate over long distances. cores for networking, storage, and communication systems and servers as well as ESL technology that transforms SoC/ASIC/FPGA development into a top-down design process, alleviating existing verification bottlenecks, reducing costs and accelerating time to market. CebaTech is privately held. For more information about the company, visit www.cebatech.com. |
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