Third round for security processor maker led by United Investments, with United Microelectronics, Infineon, and Battery Ventures

February 15, 2002

1 Min Read

TEMPE, Ariz. -- Corrent Corporation today announced that it has raised $16 million in its third round of funding, lead by venture firm United Investments. Joining them in the new round are world leading semiconductor foundry United Microelectronics Corporation, Infineon Technologies AG (FSE/NYSE:IFX), a leading global provider of semiconductor and system solutions, and the company's initial investor, Battery Ventures. Last year, Morgan Stanley led a second round of funding of $7.5M and Battery Ventures led the company's initial round in 2000. To date, Corrent has raised more than $32 million in venture funding. This round of funding comes 11 months after Corrent unveiled its plans to design a high-speed network security architecture from the ground up and two months after delivering its first samples of the industry's highest performing gigabit-speed secure socket layer (SSL) processors. "Corrent is well positioned to gain significant share of the fast growing high-speed security processor market going forth," said D.C. Cheng, managing director for United Investments. "We are impressed with Corrent's talented team of experts, technology, and ability to execute. They have proven their products provide the right solutions for what the market needs." Corrent Corp.

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