August 10, 2005 Sunnyvale, CA -- Cortina Systems, a provider of integrated, high-speed digital and analog silicon technology, today announced that it has secured $30 million in Series C financing. New investors Canaan Partners and JAFCO Ventures led the round, which also included Cortina's existing venture capital investors. In addition, Canaan Partners general partner Eric Young and JAFCO Ventures managing general partner Joe Horowitz were appointed to Cortina's board of directors.
"Cortina has all of the ingredients we look for in an investment - unique technology, a strong team, and great customer momentum," comments Horowitz. "We feel that Cortina is well positioned to become the dominant player in an important market."
Cortina says it specializes in multi-service, multi-rate port processors that allow equipment vendors to support different types of Ethernet and SONET networks with a far smaller array of converged line cards. According to the company, because its port processors can be programmed to support different rates and protocols, they reduce equipment vendors' engineering costs while slashing time-to-market for new products.
"We believe Cortina Systems stands alone as an innovator in its category," remarks Young. "As equipment makers try to meet the market's demand for systems that support various types of network interfaces, we think they will increasingly turn to Cortina for flexible and cost-effective solutions."
"This financing demonstrates a strong endorsement of our technology leadership and market strategy," concludes Amir Nayyerhabibi, president and CEO of Cortina. "It will further enable us to expand our existing strong product portfolio while delivering superior responsiveness to the needs and success of our customers."