iWatt Closes $14.5 Million Series B Financing

iWatt Inc. recently closed a $14.5 million Series B financing, led by new investor VantagePoint Venture Partners. Existing investors Horizon Ventures, PTI Alliance of Taiwan, and Sigma Partners, as well as several private investors, also participated in the round. The funding will be used to enhance the company's product road map and to facilitate the introduction of its power management products to computer and consumer electronics manufacturers worldwide.

“We believe the market is ripe for iWatt’s first, all-digital approach to power management,” said Melissa Crane, partner and new board member, VantagePoint Venture Partners. “The technology enables a new generation of power management devices.”

In a second announcement, iWatt named seasoned power-market executive Gary Pinelli as vice president of sales and marketing. Pinelli brings more than 30 years of experience in building major sales organizations and strong customer alliances with computer and consumer electronics manufacturers throughout the United States and Asia. Most recently, he was vice president of sales and marketing for Volterra, a manufacturer of silicon solutions for low voltage power delivery.

Prior to Volterra, Pinelli was a founder and vice president of sales and marketing at TelCom Semiconductor Corp., a publicly traded company acquired by Microchip. Throughout his career, Pinelli has held a number of key positions in sales and marketing for Harris Semiconductor, Mostek, and Intel. Pinelli earned a BSEE from Bradley University.

For more information, visit www.iwatt.com, call iWatt at 408-374-4200, or email [email protected].