SANTA CLARA, Calif. -- Enigma Semiconductor, Inc. today announced that it raised $5.6 million in an extension to its series B financing. The company also announced that it hired a new CEO and a new VP of Sales. The combined moves strengthen the company's position in the exploding market for packet-based switch fabrics.

"The new financing is not just further validation for our company's patented technology," said Enigma Semiconductor President & CEO Douglas Goodyear, "It recognizes our growing presence in IPTV and other bandwidth- hungry markets."

Enigma Semiconductor will use the new funds to launch new packet-based switch fabrics during the first half of 2008. The funds were raised through current investors Innovations Kapital, NorthZone Ventures, TVM Capital, and Sunstone Capital.

Enigma Semiconductor Inc.