Tempe, AZ — (press release excerpt) — DevelopOnline Corporation announced that it has received $11 million in its second round of financing. DevelopOnline investors include Carlyle Venture Partners, an affiliate of The Carlyle Group, and 3i, both of which provided first-round funding. Joining for second-round funding is global distributor, Avnet, Inc.

DevelopOnline helps embedded platform developers cut traditional development times in their target markets by as much as 70 percent. The company revolutionizes electronic product development by allowing companies to evaluate and develop products online and to deploy those products based upon functional designs for set-top boxes, handheld devices, networking products, telecommunications and communications devices, and digital cameras. More than 1,000 development projects have begun since DevelopOnline went online last October.

“We have partnership agreements with the key technology building block providers in each of our resource segments –semiconductor, operating systems, and software/middleware. This funding sets the stage for strong growth,” said Alan Steinberg, DevelopOnline president and CEO.

 
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