VaST Systems Closes $12M in Round C Funding
Virtual System Prototypes Critical For Embedded System Design Automation
SUNNYVALE, Calif., May 23, 2005 - VaST Systems Technology Corporation (VaST), the embedded system design automation company, today announced the closing of $12M in round C funding. The lead investor for the round is Foundation Capital. VaST will use the additional funds to increase research and development and field support resources. With this funding round, Mike Schuh, Foundation Capital general partner, joins VaST's board of directors. Mohr Davidow Ventures, which led VaST's B round, and Allen & Buckeridge, which led the A round, also participated in this financing.
"Foundation was very pleased to be able to lead this C round for VaST," remarked Mike Schuh, Foundation Capital general partner. "Embedded system design automation is critical and is today a dramatically underserved area. With system on a chip (SoC) functionality rapidly migrating from hardware to embedded software, VaST's virtual system prototypes in software, which run nearly as fast as the hardware device and are cycle accurate, are providing a huge competitive advantage for their customers. With VaST, users are starting software development coincident with the hardware development and cutting nine to twelve months off their development cycles."
Customers use the VaST CoMET and METeor tools together with virtual processor, bus and peripheral models to develop virtual system prototypes during the architecture definition, exploration and optimization phase of the embedded systems design process. These become the actual platforms, the golden reference models, for developing software and for driving hardware design. The high performance, timing accuracy, high observability and controllability of virtual system prototypes, in comparison with silicon, make them indispensable in an efficient engineering process.
"As an innovator with solid customer success, VaST is at a pivotal point for increasing R&D and field support resources. This round of funding allows us to suitably augment our world class team. We are delighted to have Foundation Capital as a new investor and Mike Schuh's presence on our board. Mike's experience and expertise will add tremendously to our resource base," said Alain Labat, VaST president and CEO.
About VaST
VaST Systems Technology Corporation provides tools and models for embedded system design automation. VaST's solutions enable architectural exploration and optimization, allowing users to create a virtual system prototype in software that becomes the golden reference model for the true concurrent development of hardware and software. VaST's solutions deliver both high speed and cycle accuracy under actual real-time software loads. VaST's products dramatically improve time to market and quality, and reduce development costs and risk.
Current customers include worldwide leaders in semiconductors, automotive electronics, wireless devices, and consumer electronics. VaST is headquartered in Sunnyvale, California with sales and support offices worldwide. For more information, visit www.vastsystems.com.
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Contact:
Cayenne Communication - Linda Marchant, (919) 683-9545, linda.marchant@cayennecom.com
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