"We are delighted to welcome Miramar as an investor," said Paul Cunningham, co-founder and chief executive officer of Azuro. "Miramar has deep ties to the semiconductor industry and is the perfect partner to take us through our next phase of growth."
Azuro was founded in 2002, and has raised a total of $13.3M in venture funding since its formation. The company's flagship product, PowerCentric(TM), is a complete solution for the implementation of low power clock networks on digital semiconductor chips.
Commenting on Miramar's investment, Sussner stated, "Power has become a critical issue for digital chip design teams, and we see a compelling need for advanced EDA tools that enable these teams to build lower power chips. Azuro's product is architected from the ground up to tackle the complex power saving strategies necessary for next generation chip design, and the demand for their solution is impressive."
"Azuro has undertaken the development of an ambitious technology and proven that they can deliver a significant power saving advantage to their customers," said Mark Evans, general partner at Benchmark Capital. "We are delighted to have been an integral part of Azuro's progress and look forward to facilitating their continued success."
Azuro plans to use the funds raised from the round to expand sales, extend its management team and broaden the capability of its PowerCentric solution.
About Miramar Venture Partners
Miramar Venture Partners targets technology companies with high growth potential in communications, networking, information storage, processing, security, next generation software, and application services. It seeks companies that are as market-driven as they are technology-driven, have proprietary and defensible technology positions yielding a competitive edge and barrier to entry, and are led by management teams with the experience, dedication and a high sense of urgency to succeed at their endeavours. Visit Miramar's website at www.miramarvp.com.
About Benchmark
Benchmark Capital was founded in 1995 with the mission of helping talented entrepreneurs build major technology enterprises focused on long-term growth. Benchmark takes a labour-intensive, team-oriented approach to venture investing in order to deliver a superior level of service to its portfolio companies. Benchmark's portfolio includes EDA companies Synopsys (Nasdaq:SNPS) and Get2Chip; semiconductor vendors, Abrizo, Comcore, and C-Port; and franchise companies such as eBay (Nasdaq:EBAY), Juniper Networks (Nasdaq:JNPR) and Red Hat (Nasdaq:RHAT). Managing more than $2 billion in committed venture capital, Benchmark focuses on early-stage investment in markets where the partners have direct, relevant experience. For more information on Benchmark, visit its website at www.benchmark.com.
About TTP Ventures
TTP Ventures is the venture capital investment arm of TTP Group, one of Europe's most successful innovation companies based near Cambridge, UK. It invests in early stage science and technology businesses and specializes in spin-offs from R&D organizations. Investments include Element-14 (acquired by Broadcom), Alphamosaic (multimedia processors) and Cambridge Semiconductor (integrated power semiconductors). Its investors include Boeing and Siemens. For further information, visit www.ttpventures.com.
About Azuro
Azuro, Inc. is a provider of innovative electronic design automation (EDA) solutions that significantly reduce the power consumption of digital semiconductor chips. Founded in 2002, the privately held company is headquartered in Mountain View, Calif., with a development center in Cambridge, UK. For further information, visit www.azuro.com or call (650) 237-3500.
Azuro, PowerCentric, and the Azuro logo are either trademarks or registered trademarks of Azuro, Inc. All other trademarks are the property of their respective owners.
Contact:
Azuro, Inc. Jennifer Bilsey, 650-237-3505 Email Contact or Cayenne Communication Michelle Clancy, 252-940-0981 Email Contact
