Cygnal integrates another round of funding

Cygnal Integrated Products has closed its latest oversubscribed $20.5 million round of funding.

Cygnal Integrated Products has closed its latest oversubscribed $20.5 million round of funding.

This brings the total equity raised since the company's inception just three years ago to $36 million.

BA Venture Partners (BAVP), a $500 million venture capital partnership whose sole limited partner is the Bank of America, and Alliance Technology Ventures (ATV) led the round.

Both companies will obtain seats on Cygnal's Board of Directors.

Other participants included Austin Ventures, Liberty Mutual Insurance Company, JatoTech Ventures and KLM/Current Ventures.

Mark Brooks, Managing Director of BAVP, said: "Cygnal's management team, business model and demonstrated record of execution make them a compelling investment.

In just over one year, Cygnal successfully introduced 30 proprietary mixed-signal SoC products and captured a significant customer base".

"Our ability to secure such high quality financing in these challenging times demonstrates the appeal of Cygnal's value proposition", comments Derrell Coker, Cygnal President and CEO.

"We fully expect this will be our last round of private financing".

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