Powervation raises $7m in debt & equity financing

The funding will be used to scale the business in response to strong adoption of the Company’s Intelligent Digital Power IC products in the cloud server, high performance computing, communications, and power supply markets. The Company’s integrated digital control and digital power management IC products are based on a proprietary digital control platform which delivers best in class regulation, full auto-tuning, dynamic performance and breakthrough flexibility. Powervation’s intelligent digital DC/DC controllers provide superior programmable power solutions to the perennial power design challenges of efficiency, size, cost and time to market.

Mike McAuliffe, CEO, Powervation, commented: “We have enjoyed very strong growth and major breakthroughs for our intelligent digital DC/DC power solutions at market leading customers in the Cloud and Communications infrastructure space. This financing is an endorsement for Powervation’s momentum and potential in the exploding digital power IC market."

A recent market forecast report from IHS has projected continued rapid growth for the global digital power management IC market with a forecast of over 50% CAGR growth to exceed a $3bn market opportunity by 2018.

The funding round will also enable the company to accelerate the development and deployment of its new digital controllers with industry leading xTune intelligent auto-tuning technology and ITM intelligent, fast transient technology for multi-rail, multi-phase and integrated PoL applications.

“I’m very pleased with the support we’ve received from Ares Management and the continuing commitment from our existing investor constituency. This financing provides us with working capital to accelerate and scale the business to the next level," said Rick Santos, Vice President and CFO, Powervation.