Monday, November 26, 2007

Enigma Semi Raises $5.6 Million for Packet Switch Fabrics

Enigma Semiconductor, a start-up based in Santa Clara, California with R&D in Denmark, raised $5.6 million in an extension to its series B financing. The company plans to introduce new packet-based switch fabrics during the first half of 2008.

Enigma Semiconductor also named Douglas Goodyear as its new President and Chief Executive Officer. Goodyear comes to Enigma Semiconductor having led public and private hi-tech companies, serving as CEO at Tioga (acquired by ST Micro), TakImaging (Insilica), and Nuelight (Leadis Technologies).

The company also named Everett Herrera as its new Vice President of Sales and Business Development. Herrera previously served as VP of Sales for Redpine Signals, and held senior sales, marketing and engineering positions at Silicon Packets (Cypress), Intel, Paxonet Communications (Conexant) and C-Cube Microsystems (LSI Logic).

The new funding was raised through current investors Innovations Kapital, NorthZone Ventures, TVM Capital, and Sunstone Capital.