Additional capital to expand market position in embedded system design solutions for multicore processor platforms
San Jose, CA – September 09, 2008
CriticalBlue, 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 company’s solutions for the design and programming of multicore platforms, as well as for the expansion of the company’s commercial operations.
“CriticalBlue’s 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. “CriticalBlue’s new technology is being launched successfully in some of the most challenging embedded technology domains, such as Venezia, Toshiba’s 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 guides software developers through the task of migrating to and optimizing code on multicore platforms through the delivery of innovative and multicore software focused tools, training, and services. The increasing use of complex, multicore processor architectures has accelerated demand for CriticalBlue’s technology and expertise throughout all electronic industry sectors.