AUSTIN, TX -- Cygnal Integrated Products, Inc., a manufacturer of mixed-signal system-on-chip (SoC) microcontrollers, today announced the closure of an over-subscribed $20.5 million funding round, bringing the total equity raised to $36 million since the company¹s inception.
The round was led by BA Venture Partners (BAVP), a $500 million venture capital partnership, of Foster City, CA, and Alliance Technology Ventures (ATV) of Alphretta, GA. BAVP, whose sole limited partner is Bank of America, and ATV will both obtain seats on Cygnal¹s board of directors. Other participants in the round included Austin Ventures, Liberty Mutual Insurance Company, JatoTech Ventures and KLM/Current Ventures.
"Cygnal's management team, business model and demonstrated record of execution make them a compelling investment," said Mark Brooks, Managing Director of BAVP. "In just over one year, Cygnal successfully introduced 30 proprietary mixed-signal SoC products and captured a significant customer base."
Cygnal President and CEO, Derrell Coker, added, "Our ability to secure such high quality financing in these challenging times demonstrates the appeal of Cygnal¹s value proposition. We fully expect this will be our last round of private financing."
About Cygnal
Founded in March 1999, Cygnal Integrated Products, Inc. of Austin, TX. designs, manufactures and markets advanced in-system programmable, mixed signal system-on-chip (SoC) products and associated support tools. These unique products embody the Company¹s no-compromise attitude and distinguished technical skill base integrating world-class analog, high-speed digital and FLASH memory functions into a single powerful chip. The combination of mixed-signal integration and in-system programmability offers tangible user benefits through higher component integration, greater design flexibility, faster time-to-market, superior system performance and improved end product differentiation. Cygnal products deliver advanced application solutions expressly designed to address a broad range of markets including communications systems, industrial equipment and consumer products. Technical information is available and orders are accepted at the Company¹s e-commerce site at www.cygnal.com. Products may be purchased in any quantity, either by purchase order (invoiced shipments) or by credit card.
Cygnal and cygnal.com are trademarks of Cygnal Integrated Products, Inc.
Company Contact
Scott Schaefer, CFO
Cygnal Integrated Products, Inc.
4301 Westbank Drive
Building B - Suite 100
Austin, Texas 78746
512.327.7088 x216
sschaefer@cygnal.com
Editorial Contact
Erin Stolle
Protean Marketing Inc.
9020 N. Capital of Texas Highway
Building 1, Suite 220
Austin, TX 78759
512.418.9059
erin.stolle@proteanmarketing.com
Dateline: 01/17/02