| August 10, 2005 | Press Release |
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| Cortina Systems Raises $30 Million |
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| Portfolio Company: Cortina Systems |
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New Investors Canaan Partners, JAFCO Ventures Lead Series C Round
SUNNYVALE, Calif., Aug. 10 /PRNewswire/ -- Cortina Systems, a leader in integrated, high-speed digital and analog silicon technology, today announced that it has secured $30 million in a Series C financing. New investors Canaan Partners and JAFCO Ventures led the new round, which also included all of Cortina's existing venture capital investors. In addition, Canaan Partners general partner Eric Young and JAFCO Ventures managing general partner Joe Horowitz will take seats on Cortina's Board of Directors.
"Cortina has all of the ingredients we look for in an investment -- unique technology, a strong team, and great customer momentum," said Joe Horowitz, managing general partner of JAFCO Ventures. "We feel that Cortina is well positioned to become the dominant player in an important market."
Cortina specializes in multi-service, multi-rate port processors that allow equipment vendors to support different types of Ethernet and SONET networks with a far smaller array of converged line cards. Because Cortina's port processors can be programmed to support different rates and protocols, they greatly reduce equipment vendors' engineering costs while slashing their time to market for new products. With its advanced technology, Cortina is already supplying some of the world's largest network equipment manufacturers. "We believe Cortina Systems stands alone as an innovator in its category," said Eric Young, general partner of Canaan Partners. "As equipment makers try to meet the market's demand for systems that support various types of network interfaces, we think they will increasingly turn to Cortina for flexible and cost-effective solutions."
According to Amir Nayyerhabibi, president and CEO of Cortina, "This financing demonstrates a strong endorsement of our technology leadership and market strategy. It will further enable us to expand our existing strong product portfolio while delivering superior responsiveness to the needs and success of our customers."
About Cortina Systems
Cortina Systems is driving the evolution of carrier, service provider, and enterprise networks with advanced port processors that integrate analog and digital technology to support multi-service capabilities. Cortina's products deliver best-of-breed performance, density, and interface flexibility, enabling equipment vendors to address multiple markets with fewer products, reduce system footprints and power requirements, speed time to market, slash development costs, and focus on software differentiation. With its team of highly skilled Systems and IC designers, Cortina is the only company focused on speeding convergence of heterogeneous carrier and enterprise networks by simplifying port connectivity. Founded in 2001, Cortina Systems is funded by Canaan Partners, El Dorado Ventures, INVESCO Private Capital, JAFCO Ventures, Kodiak Venture Partners, Morgenthaler Venture Capital, and Redpoint Ventures. Cortina Systems is based in Sunnyvale, California.
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