CriticalBlue raises $4M, adds Investors Toshiba Corporation and Scottish Venture Fund
Additional capital to expand market position in embedded system design solutions for multicore processor platforms
San Jose, CA – September 10, 2008 - CriticalBlue <www.criticalblue.com/> , the leader in accelerated embedded software solutions, has raised $4M of private equity funding from Toshiba Corporation and Scottish Venture Fund as well as previous investors Herald Ventures, Lanza TechVentures and Pentech Ventures. The funding will be used to continue the development of the companys solutions for the design and programming of multicore platforms, as well as for the expansion of the companys commercial operations.
“CriticalBlues understanding of embedded software for advanced multicore processor architectures places them in a unique position to solve one of the hardest problems in electronic design today,” commented Nobu Matsumoto, Senior Manager of Software Design Platform Dept., Center for Semiconductor R&D, Semiconductor Company, Toshiba Corporation. “CriticalBlues new technology is being launched successfully in some of the most challenging embedded technology domains, such as Venezia, Toshibas new multicore processor for mobile multimedia systems.”
"Since we added a multicore front-end to our Cascade solution we have seen a significant upswing in opportunities for deployment of our products,” commented David Stewart, CEO, CriticalBlue. "The new funding round will allow us to broaden and deepen our multicore offerings. Toshiba Corporation and Scottish Venture Fund are a complement to our existing investors in ensuring we are addressing the immediate needs of the market.”
”Based on the number of multicore related business plans we see, we recognize that the right solution will have a significant market opportunity,” commented Neil Ross, Head of Investment Funds, Scottish Venture Fund. “CriticalBlue has developed a pragmatic solution to multicore embedded system design and is already engaged with industry leading customers. The decision to invest was straightforward.”
CriticalBlue is a pioneer of flexible, automated embedded system design solutions that meet the increasing performance, power, and cost demands of delivering advanced electronic products within todays demanding design schedules. The increasing use of complex, multicore processor architectures has accelerated demand for CriticalBlues technology and expertise throughout all electronic industry sectors. Headquartered in Edinburgh, Scotland, with offices in San Jose, California, and Tokyo, Japan, CriticalBlue currently employs 25 people. The company is funded by European, Silicon Valley, and Japanese venture capitalists and corporate investors.