Israel-based startup Optimal Test has raised $16 million in a second round of financing led by Evergreen Venture Partners as well as former investors – Carmel Ventures and Pitango. The round brings to $30 million the total VC funds raised by the company.
Optimal Test develops a test suite for maximizing IC yields through managed test results. In other words, Optimal Test produces efficiency reports on the yield of hardware chips and manages the entire testing chain, thus solving a major pain shared by all semiconductor companies. It manages to do so by combining automatic test equipment data with business enterprise data.
Dan Glotter, CEO and co-founder of OptimalTest, said:
“The money we have raised will help us establish support sites for new customers around the world, expand our workforce and continue to invest in the research and development of existing and new products. We are expanding at a fast pace and we intend to recruit more than 40 engineers and software professionals during 2008.”
It’s not the first time OptimalTest produces good news – last year the company sold its Test Management Solution (TMS) software to an undisclosed European semiconductor manufacturer in a money heavy licensing deal. OptimalTest was founded in 2005 and now employs 60 workers.
He is a former General Partner at Google Ventures (GV) in Europe, former head of Google for Entrepreneurs in Europe, and founding head of Campus London, Google's first startup hub. Eze writes on Israeli tech, venture capital, artificial intelligence, and founder strategy.
He is also the founder of Techbikers, a nonprofit that brings together the startup ecosystem on cycling challenges in support of Room to Read.
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