Carbon Fuels Growth With Additional $5M Funding
Carbon Fuels Growth With Additional $5M Funding
Next Generation Product Development Underway
WALTHAM, MA -- (MARKET WIRE) -- 09/14/2006 -- Carbon Design Systems -- an innovator in ESL tools for software validation prior to silicon -- announced today that it has raised $5M in its series D round of financing. In addition, Carbon mentioned that Edgar Masri will remain on its board of directors, after being recently appointed the new president and chief executive officer of 3Com, a leader in networking products.
Participating venture capital firms included all previous series C investors: Matrix Partners, Flagship Ventures, and Commonwealth Capital. This round of investment brings Carbon's total financing to $25 million, with each venture capital firm having an equal equity stake.
"Carbon will use this funding to drive new product development, with our recently announced Replay™ being the first in a new round of innovations brought to market," proclaimed Rick Lucier, president and CEO of Carbon. "Expect to see Carbon setting the benchmark in software validation by which others are measured."
"Carbon is implementing a big vision that allows electronic systems, including the software content to be validated before fabrication," expressed Edgar Masri, president and CEO of 3Com. "Their differentiation is supporting multiple levels of design abstraction, including fast models derived from RTL -- the world's hardware design language."
"Carbon is removing the adoption barriers for system-level design methodologies," stated Steve Ricci, managing director and vice chairman of Flagship Ventures. "Carbon has the momentum to capitalize on this fast growing market segment."
"Traditional EDA customers have been saddled with outdated simulation and emulation products," declared R. Stephen McCormack, general partner and co-founder of Commonwealth Capital. "It takes new, innovative companies like Carbon to bring revolutionary products to market."
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 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.
About Flagship Ventures
Flagship Ventures is an early-stage venture capital firm focused on creating, financing, and building innovative companies in the Life Science and Technology sectors. Headquartered in Cambridge, MA, Flagship Ventures was founded in 1999 and manages $700 million in capital. The Flagship investment team consists of 10 professionals and is led by co-founders Noubar Afeyan and Ed Kania. 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 making investments in high-growth technology sectors including: software and software-based services, communications infrastructure and services, and analytic and diagnostic instruments. With over $330 million of committed capital under management, the firm's partners have invested in more than 130 high-growth companies, many of which have become leaders in their respective industry categories. Commonwealth Capital's offices are located in Waltham, MA.
Carbon's products in conjunction with SystemC™ simulation platforms, such as ARM® RealView® SoC Designer, enable the first effective system validation solution. Carbon dramatically reduces design cycle time by allowing legacy IP and RTL to be used early for architecture profiling and tradeoff analysis all the way through software and hardware integration. Unlike the time-sink to create behavioral models or bring-up an expensive emulator, Carbon generates high-performance hardware-accurate simulation models from RTL in minutes.
Carbon's new approach accelerates time-to-profit by enabling software validation to occur in parallel with hardware development. Problems can be found and resolved early in the design cycle -- rather than waiting for FPGA prototypes to be built or silicon to be delivered.
The company is headquartered at 375 Totten Pond Road, Suite 100/200, Waltham, MA. 02451. Telephone: 781.890.1500, Fax: 781.890.1711, Email: info@CarbonDesignSystems.com, Website: www.carbondesignsystems.com or www.easypass2esl.com
Carbon Design Systems and Replay are trademarks of Carbon Design Systems, Incorporated. SystemC is a trademark of the Open SystemC Initiative. ARM and RealView are registered trademarks of ARM Limited. All other companies and products referenced herein are trademarks or registered trademarks of their respective holders.
For more information, contact:
Carbon Design Systems PR Counsel
Carbon Design Systems