12/15/2005 - Sequence Design, the EDA (Electronic Design Automation) technology leader in low-power design, has received its latest round of funding, securing $5.3 million in venture capital.
Focus Ventures led the new round, along with First Plaza, GM Capital, IVP, Lake Street Capital, Menlo Ventures, and Sigma Partners. All have previously invested in Sequence.
The company added new members to its board of directors which is now comprised of Vic Kulkarni, Sequence President and CEO; Steve Bird, Focus Ventures; Adam A. Kablanian, President, CEO, and Director, Virage Logic; James Picciano, Former General Manager, Microelectronics Division, IBM; and Jeff Barman, GM Capital (board observer).
Kulkarni explained that the additional funding will be used to further expand sales and support operations in fast-growing markets such as Japan, India, and Southeast Asia. "We are experiencing rapid growth in all regions for low-power design tools as the industry shifts to 90nm and 65nm designs," Kulkarni said. "As the designs grow smaller, the problems from power become much bigger, so we are in a very good position to provide the necessary technologies to help our customers succeed."
Kulkarni also said the company is increasing its R&D spending in the United States and India. Sequence recently introduced upgraded versions of PowerTheater, CoolTime, and CoolPower, its leading technologies for "power-aware" IC designers.
These enhanced versions specifically deal with key design challenges such as leakage power, which significantly reduces battery life in portable devices such as cell phones; early analysis of power issues to speed the design process; and voltage drop that can lead to chip failures or deliberate and costly overdesign of chips.
Focus Ventures' Steve Bird said Sequence is well positioned to help its customers with low-power design, cited as today's number-one concern of IC designers. "Sequence began focusing on these issues way ahead of the pack," he said. "Consequently, they now have a considerable technology lead over the competition, and are poised for breakout success as the semiconductor industry moves to 90nm manufacturing and below."
"Credibility is earned in EDA, and Sequence certainly has it with more than 125 customers around the world, many of them among the biggest names in semiconductors," said Zachary Abrams, Lake Street Capital. "Vic (Kulkarni) is setting the course now for continued expansion and rapid growth, and we see lots of upside potential in all the markets where Sequence is focused."
Sequence Design, Inc. enables system-on-chip designers to bring higher-performance and power-aware nanometer integrated circuits quickly to fabrication. Sequence's power and signal- integrity software give its more than 125 customers the competitive advantage necessary to excel in aggressive technology markets, despite demanding complexity and time-to-market issues of nanometer design.
Sequence has worldwide development and field service operations. The company was recently named by Reed Electronics as one of the top 10 companies to watch in the electronics industry. Sequence is privately held.
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