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eASIC Raises $48 Million in Latest Financing Round
eASIC Raises Largest Round To Date To Fund Product Deployment, Customer Support and Next Generation Product Release Santa Clara, California -- March 13, 2008 -- eASIC Corporation, a provider of zero mask-charge ASIC chips, today announced it has raised $48M in late stage financing. The financing round was lead by Advanced Equities Incorporated. Also participating in the round were previous investors Khosla Ventures, Kleiner Perkins Caufield and Byers, Crescendo Ventures and Evergreen Venture Partners. The eASIC Chief Financial Officer, Craig Klosterman, also invested in this round. Our investment in eASIC builds upon our successful strategy of maximizing late-stage investments in companies with innovative technologies capable of disrupting large markets, said Keith Daubenspeck, Co-Founder and Chairman of Advanced Equities Financial Corp. Since first engaging with eASIC, we have been extremely impressed by the rapid proliferation of their game-changing products across many applications and market segments. eASIC's unique, patented silicon technology offers chip designers a family of zero dollar mask charge, no-minimum-order ASIC devices combined with a rapid design cycle and only a four-week silicon turn-around time. eASIC has design wins and customers in a wide variety of applications such as portable video devices, cell phones, wireless basestations, routers, gateways, video surveillance, digital displays plus others. Khosla Ventures was an early investor in eASIC and is delighted to see the promise of this disruptive technology become a reality. eASIC is ushering in a new era of affordable silicon customization, said Vinod Khosla, Founder and General Partner, Khosla Ventures. We are looking forward to the next stage of this company and the very exciting impact that it will have in the traditional custom logic market.
We are pleased to add Advanced Equities to the visionary investors that were able to accurately predict the inflection point in the $80B custom logic market, where costs have become prohibitive to mass silicon customization, said Ronnie Vasishta, President and CEO of eASIC Corporation. Our Nextreme product is winning designs in the traditional standard cell ASIC, the Application Specific Standard Product (ASSP) and the FPGA markets. Our customers range from large multi-nationals to small startups. We are also encouraged to see Craig Klosterman invest, as he has a track record of picking winning companies. eASIC is a fabless semiconductor company offering breakthrough zero mask-charge ASIC chips aimed at dramatically reducing the overall cost and time-to-production of customized semiconductor devices. Low-cost, high-performance and fast-turn ASIC and System-on-Chip designs are enabled through patented technology utilizing Via-layer customizable routing. This innovative fabric allows eASIC to offer ASICs with no mask-charges and no minimum order quantity. Privately held eASIC Corporation is headquartered in Santa Clara, California. Investors include Khosla Ventures, Kleiner Perkins Caufield and Byers (KPCB), Crescendo Ventures, Evergreen Partners and Advanced Equities Incorporated. For more information, please visit www.eASIC.com.
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