Atrenta Raises $11M in Series C Funding; Investcorp Leads Financing to Provide Funds for Accelerated Growth

SAN JOSE, Calif.—(BUSINESS WIRE)—June 8, 2004— Atrenta(R) Inc., the Predictive Analysis Company, announced the closing of its Series C financing of $11 million, bringing the total amount raised to date to over $27 million. The round was led by the venture capital arm of Investcorp, the global investment group with a 20-year track record of investing in North America and Europe. Atrenta will use the additional funds to develop and market its next generation of products for the Electronic Design Automation market (EDA). With this funding round, Raj Singh, partner at Investcorp, joins Atrenta's board of directors and Dr. Dirk Schmucking from Investcorp will join as an observer to the board. Existing investors participating in the round included Venrock Associates, TL Ventures, Smart Technology Ventures and Fina Ventures.

"We were attracted by Atrenta's strong customer traction and financial performance, the growth potential of its next-generation products and its accomplished management team," said Savio Tung, Managing Director of Investcorp's Technology Investment team. "The company offers a compelling value proposition by helping chip designers worldwide solve complex ASIC and SoC design challenges with its unique and innovative predictive analysis and verification technologies. We are excited to partner with Atrenta to help them realize their true potential as a major market player."

"Strong backing from a prominent venture capital firm such as Investcorp and the confidence our existing investors continue to place in us underscores the strength of Atrenta's technology and business strategy," said Dr. Ajoy Bose, chairman, president and CEO of Atrenta Inc. "We will use the additional capital to deliver on our long-term goals and vision and take the company to the next level."

About Investcorp

Investcorp is a global investment group that has a 20-year history of private equity and venture capital investments in North America and Europe. Investcorp's transactions to date have a value of over $25 billion. In the past three years, Investcorp has invested over $500 million in technology and telecommunication businesses.

Investcorp's existing and past technology investments include Stratus Computers, Taqua Systems, Zettacom, Utimaco Safeware, Softek, Mobileway and PortalPlayer. Investcorp's existing private equity investments include Avecia, Gerresheimer Glas AG and Hilding Anders in Europe, and Aero Products, PlayPower and MW Manufacturers in the US. Further information on Investcorp is available at www.investcorp.com.

About Atrenta

Atrenta delivers predictive analysis and verification solutions to the world's leading electronics companies, including eight of the top ten semiconductor companies. Its pioneering PeriScope and SpyGlass solutions accelerate the design of SoCs, ASICs, and FPGAs by detecting complex chip design problems that are not easily identified with conventional verification methods. Atrenta's products have been recognized through several distinguished awards, including EDN magazine's Top 100 products and "LSI Design of the Year" award by Japan's Semiconductor Industry News. Most recently, Atrenta's constraints product was named as an EDN Innovation Awards finalist for 2004. Atrenta was also chosen by Venture Reporter as one of the top 100 venture-backed companies, and named by AlwaysOn as one of the Top 100 private companies.

Atrenta, with headquarters in San Jose, California, employs over 150 people worldwide. It has European offices in England and France, a research and development center in India, and sales and support distributors in Europe, India, Israel, Japan, Korea, Singapore, and Taiwan. For further information, visit the Atrenta website at www.atrenta.com, email moreinfo@atrenta.com, or call 408-453-3333.

Atrenta and SpyGlass are registered trademarks and Periscope is a trademark of Atrenta Inc. All other trademarks belong to their respective owners.

Atrenta Inc.
Mona Singh, 408-467-4248
mona@atrenta.com
  or
NewIIC
Paula Jones, 650-967-3711
paula@newiic.com