Nusym Technology Inc., a Los Gatos, Calif.–based provider of verification closure solutions for chip design, has raised $8 million in Series B funding. Voyager Capital led the round, and was joined by Simmons Goodspeed Investment Management, undisclosed public company and return backers Woodside Fund and Draper Richards.
Nusym Technology, Inc., a provider of breakthrough functional verification software, today announced it has raised $8 million in new Series B financing. The company will use the new capital to refine and introduce its intelligent verification product line which utilizes design insight to enable rapid verification closure. The product line is currently being evaluated on leading edge designs at Nusym’s semiconductor partners.
This investment round was led by Voyager Capital, with Simmons Goodspeed Investment Management and a public company participating as a “strategic investor”. Previous Series A investors Woodside Fund and Draper Richards, also participated in this round. Daniel Ahn of Voyager Capital will join Nusym’s Board of Directors.
“Investor scrutiny is increasingly rigorous during these challenging economic times, and their substantial investment in Nusym is testimony to the enormous potential of our technology,” said Venktesh Shukla, Nusym’s president and CEO. “Nusym’s products will enable verification teams to develop confidence in their design in a fraction of the time and resources of current methods.”
“Nusym is pioneering tools to reign in the escalating costs, schedule delays, and unacceptable risks that plague today’s electronic projects,” said Daniel Ahn, Managing Director at Voyager Capital. “Voyager believes Nusym’s solution represents a major breakthrough in a strategic growth area for electronic design automation in general.”
“With the addition of Voyager to the Board, we now have the right team in place to fully support Nusym as they change the fundamental economics of chip design,” stated Mark Hoover, partner at Woodside Fund.
Nusym Technology, Inc. provides rapid verification closure solutions that leverage design insight to reduce the time and effort needed to develop confidence in the design. Nusym is backed by top-tier venture investors that include Voyager Capital, Woodside Fund, Draper Richards, and Simmons Goodspeed Investment Management, and is working with multiple leading edge verification teams. The company is headquartered at 420 Blossom Hill Road, Suite 201, Los Gatos, Calif. 95032. For more information, please visit the company’s website at www.nusym.com.
About Voyager Capital
Voyager Capital is a leading West Coast information technology venture firm, providing entrepreneurs with the resources, experience, and connections to build successful companies. Voyager invests primarily in early stage digital media, software and services, wireless, and web infrastructure companies, where the firm’s domain expertise and “Go-to-Market” resources help build market leaders. Voyager Capital has $370 million under management with offices in Seattle, Washington; Menlo Park, California; and Portland, Oregon. For more information please visit: http://www.voyagercapital.com/.