Product category: Design and Development Software
News Release from: Atrenta
Edited by the Electronicstalk Editorial Team on 7 August 2003
New funds help
Atrenta with long-term goals
Atrenta has closed 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, 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.
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EDA veterans to expand European business
Atrenta has appointed EDA industry veterans Dieter Rudolf and Martin McIntyre to help expand the company's Central and Northern European business operations
Atrenta was represented in the financing by Pillsbury Winthrop's Palo Alto office.
"Atrenta's award-winning product, impressive list of successful customers, and strong management team make it a first-rate investment and the EDA 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.
"The fact that we were able to raise additional capital at an increased valuation and favourable 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 and vision and take the company to the next level".
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