Rocket Ventures and Trinity Ventures are lead investors in semiconductor interface technology pioneer
SAN FRANCISCO, CA – September 16, 2002 – TriCN, a leading developer of intellectual property (IP) for semiconductor interface technology, today announced completion of its initial round of funding of $4.5 million. Lead investors in the round include Rocket Ventures and Trinity Ventures. Robert Winter, General Partner and Managing Director of Rocket Ventures and Fred Wang, General Partner of Trinity Ventures will each have a seat on the board of directors.
"Today's strategic investment by Rocket Ventures and Trinity Ventures represents an important validation of our vision for TriCN, which is to be the premier provider of high performance semiconductor interface IP," says Ron Nikel, Founder and Chief Technical Officer for TriCN. "The infusion of capital will allow us to accelerate the expansion of our portfolio of interface solutions, especially in the development of our family of high -speed SerDes products where we anticipate the most demand from customers."
Semiconductor IP Thriving
Semiconductor intellectual property (IP) is a thriving industry, as companies seek to outsource portions of their chip design. Last year, sales of semiconductor IP grew 25% over the previous year, and market research firm Gartner Dataquest forecasts this industry will realize a 46% CAGR through 2004, with semiconductor interface IP cited as one of the strongest segments of the market. TriCN's product portfolio directly targets this crucial area of chip functionality.
Interface IP provides the means to move data on and off the chip, and as semiconductors become smaller and faster, the performance issues associated with this technology become more complex and critical. TriCN's founders have been developing high-performance interfaces, chips and systems for over 20 years, and have applied patent-pending technologies to create a product line that addresses all interface needs for semiconductor designers.
Single Source for Interface IP
"Our charter is to provide a single source for companies seeking interface solutions, from the base I/O cells, to memory and networking interfaces, mixed signal products, and high speed SerDes", says TriCN's Nikel. "The work we've done to produce interface-specific solutions frees our customers from having to take on additional engineering tasks which not only impacts resources, but time-to-market."
"In order for us to invest in any company seeking an initial round of funding, they must meet our demanding due diligence criteria," says Robert Winter, General Partner and Managing Director for Rocket Ventures. "This includes a proven product portfolio with a compelling need in a growing market segment, and veteran executive and engineering management. TriCN has stepped up to our requirement and we fully expect them to become a major force in the rapidly growing semiconductor interface IP market."
"TriCN has a compelling vision for the semiconductor IP space," said Fred Wang, General Partner for Trinity Ventures. "They have done a great job of positioning themselves as a provider of complete interface technology solutions for their customers and have an exciting and innovative technology roadmap. Furthermore, as processing and network speeds increase, the need for third party standards-based solutions for high-speed interfaces will increase dramatically."
Founded in 1997, San Francisco, California-based TriCN is a leading developer of high performance semiconductor interface intellectual property. The company provides a complete portfolio of IP for moving data on and off the chip. This IP is designed for IC developers addressing challenging bandwidth-intensive applications, typically in the communications, networking, data storage and memory space. TriCN's IP answers these challenges by delivering validated, industry-leading I/O performance and bandwidth density while dramatically streamlining design complexity and time-to-market. TriCN's customers range from startup to established fabless semiconductor and systems companies, including Philips, MIPS Technologies, SGI, IBM, Cognigine, Internet Machines, and Apple Computer.
For more information, please visit TriCN's web site at www.tricn.com.
About Rocket Ventures
Rocket Ventures, located in Silicon Valley, is a seed and early-stage venture capital firm focused on achieving superior financial returns by creating and building value in information technology companies. The Rocket Ventures team has a combined 30+ years of investment experience and 150+ years of high-tech operating experience, and have held Board-level and senior management positions in some of the world's best high-tech and communications companies, including IBM, Hewlett-Packard, Texas Instruments, Xerox, Accenture, Intergraph, US West, Media One, Cable & Wireless, and MCC. Current portfolio companies include Taviz Technology, Hipbone Communications, Financial Interactive, eBoomerang, Flytecomm, Impli, and Shoptalk Networks.
For more information, please visit Rocket Venture's web site at www.rocketventures.com
About Trinity Ventures
Founded in 1986, Trinity Ventures is a value-added investor that provides capital, networks and resources to early-stage software, communications and enterprise systems companies that offer critical infrastructure and services. Trinity's focus is to accelerate growth and improve the probability of long term success for the companies in its portfolio by being an active, accessible partner. With more than $1 billion under management, Trinity Ventures has a proven track record of working in close collaboration with entrepreneurs to build lasting companies.
For more information, please visit Trinity Venture's web site at www.trinityventures.com
TriCN: The Single Source for Interface IP™