Verifyter to get fresh investment from Spintop and other investors

Verifyter AB, a Lund, Sweden-based company providing of software for the automatic debugging of regression tests, announced that Spintop Ventures, Sydsvensk Entreprenörfond and EDA veteran Lars-Eric Lundgren have invested in the company.

Verifyter led by CEO Daniel Hansson, develops and markets PinDown, a software tool for the automatic detection and analysis of test failures. Verification makes up a major portion of the total development time for large and complex systems, often up to 80%.

By using PinDown, the time for testing, debugging and fixing bugs is significantly reduced, which results in a reduced total development time while at the same time increasing the quality of the design and the end product. This means major cost savings for large development projects, and even more importantly, new products can be launched earlier and with better quality. PinDown is already deployed and in use at Synopsys, a leading EDA vendor, headquartered in Silicon Valley.

Lars-Eric Lundgren:

“PinDown helps solving a large and growing problem. As the complexity of products is continuously increasing, an ever growing amount of development time and work is spent on verification and debug. PinDown plays a key role in solving this challenge. We have confirmed the demand from the market since we set up our office in Silicon Valley last year – companies are constantly looking for more efficient debug and verification tools.”

Finn Persson, partner at Spintop Ventures:

”We have followed Verifyter since fall 2011 and we think the company has a compelling product, which gives customers significant time and cost savings accompanied by an improved product quality. The company has made great progress since we met the first time. We are excited to join as shareholders and to support the ramp up of business and the associated development of the operations on both sides of the Atlantic”.