Jasper Design connects $7M for circuit verification software
Jasper Design Automation just raised $7 million in fourth round funding from ZenShin Capital, Cambrian Ventures, Foundation Capital and Accel Partners, reports VentureWire. The Mountain View, Calif. company makes software that allows chip designers to check that new features or changes they introduce don’t interfere with the functionality of the original products they are working on. It currently counts Qualcomm, Advanced Micro Devices (AMD), Nvidia and Sony among its clients.
The recent investment round will be used to market Jasper’s newest product, ActiveDesign — launched last month — which clearly lists unintended consequences resulting from design decisions.
The software has supposedly come in handy for chip producers looking to rapidly release updated versions to meet the rising demand and specifications of new electronics products. Jasper claims that its services help companies refresh their products quickly and with less manpower (normally, about 70 percent of product development time is spent running verification tests). And its 100 percent customer retention rate, and 100 percent jump in revenue in the last year suggest that this is the case.
Jasper has now raised $27 million in capital to date, including its $15 million third round in 2004.
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