Advanced Analogic Technologies Inc. (AnalogicTech, Sunnyvale, CA), a developer of innovative power management solutions, announced that it has raised $15 million in a new round of financing. Battery Ventures, a leading venture capital firm focused on investing in information technology companies at all stages of growth, led the financing with participation from existing investors Hotung Ventures, InveStar, Maton Venture, Mosel Vitelic, and Sunsino Ventures Group. Ken Lawler, general partner with Battery Ventures, will take a seat on the company's board of directors.
The Series E private equity financing will be used for working capital and to expand infrastructure to support sales growth. As part of this process, AnalogicTech will extend its global presence with the addition of new sales and technical staff.
"Our Total Power Management product line received widespread customer acceptance as we extended our sales presence worldwide and took a prominent position in the consumer, communications and computing markets," said Richard Williams, CEO of AnalogicTech. "This latest round of financing will help us sustain our sales growth and strengthen our balance sheet as the role of power management ICs becomes increasingly important in a growing variety of MP3 players, mobile phones and hand-held computing designs."
