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Jasper pulls in $5.5 million

Jasper Design Automation announced Monday it raised a $5.5 million second round of funding from Foundation Capital. The electronic design automation company also named Kathryn Kranen, former chief executive of Verisity Design, as its new CEO. Kranen replaces Vigyan Singhal, a company cofounder and board member, who will become vice president of engineering. The Mountain View, Calif.-based company has raised a total of $7.1 million. Jasper, formerly Tempus Fugit, develops verification technology to test chip designs and ensure they meet functional requirements before going to market.