Wednesday, November 28, 2007

Enigma Semiconductor Adds On $5.6M

Santa Clara-based Enigma Semiconductor, a firm developing packet-based switching chips for the networking market, said last night that it has raised an additional $5.6M in its Series B round. The funding came from its current investors, Innovations Kapital, NorthZone Ventures, TVM Capital, and Sunstone Capital. The firm said the funding will go towards launching new products in the first half of 2008. The firm said, in conjunction with the funding, that it has hired Douglas Goodyear as the firm's CEO, and Everett Herrera as VP of Sales and Business Development. Goodyear joins from Tioga, where he was CEO, and has also served at TakImaging and Neulight. Herrera joins from Redpine Signals, and has also served at Silicon Packets, Intel, Paxonet, and C-Cube Microsystems. More information »