GateRocket Financing
September 15th, 2006 by Dave
GATEROCKET SECURES SERIES A FINANCING ROUND LED BY COMMON ANGELS
- Appoints Dave Orecchio as President and CEO - Establishes Advisory Board -
Bedford, Massachusetts, September 15, 2006: GateRocket, Inc. today announced that it has secured $1,250,000 Series-A financing. The round was led by the prestigious CommonAngels with participation from a consortium of several other angel groups in the New England area including Beacon Angels, Cherrystone, Granite State Angels, Launchpad, Maine Angels and North Country Angels.
GateRocket Leadership: With the financing, GateRocket rounds out its executive management with the appointment of Dave Orecchio as President and CEO. Dave has 24 years of semiconductor industry experience at four venture backed companies with a focus on semiconductors, ASIC and FPGA design and development. His leadership brought three of the four companies to successful exits for the investors and stakeholders. Prior to GateRocket, Dave held executive positions in marketing, sales and general management at LTX, Viewlogic Systems, Inc, Synopsys, Innoveda, Parametric Technologies and DAFCA.
“When I reviewed the GateRocket product and vision, I saw an opportunity to create a great company built on the foundation of a truly groundbreaking product,” said Dave Orecchio, GateRocket’s President and CEO. “It is seldom where you find the perfect storm of the right technology at the right time with a fantastic team to execute on its vision. GateRocket has all of these properties,” he added.
Outside Directors: GateRocket has well established world-class leadership with outside board members and EDA and technology luminaries Alain Hanover and Jim Daniell.
Alain Hanover, was the founder and CEO of Incert Software Corporation and Viewlogic Systems, Inc., and is currently CEO at Navigator Technology Ventures.
Jim Daniell, a serial entrepreneur, was COO at AT&T’s Network Commerce Services, and held leadership roles at several startup companies before joining Echelon Ventures as Managing Director.
Advisory Board: GateRocket gains significant benefit from its technical advisory board, one with industry veterans with experience in EDA startups, business development, and finance. The Advisory Board includes Michael D’Amour, Brad Hafer, John McFee and Stacy Swider.
Mike D’Amour is COO at DRC Computer Corp. Mike is best known for his founding of Quickturn Design Systems, Inc., where he served as CEO, Chairman, and Executive VP of R&D. Mike led the company to a successful IPO and later an acquisition by Cadence Design Systems, Inc.
Brad Hafer is Managing Director at Minuteman Advisory Partners, LLC, a strategy consulting firm focused on high-tech corporate development. Brad was most recently VP of Corporate Development at Matrix One.
John MacFee is CFO at eDialog, Inc. In his many start-up experiences, John played a significant leadership role in their early stage development, rapid growth and subsequent initial public offerings.
Stacy Swider is an entrepreneur and consultant to high technology companies in the Boston area. Stacy provided business leadership for GateRocket from inception to the acquisition of financing and now plays an important role as advisor to GateRocket.
Loading ...