FyreStorm Inc. has completed its Series C funding totaling $25 million in a round led by Worldview Technology Partners. "All previous investors participated in Series C financing, indicative of their high confidence in our core competency, our management team, and our manufacturing and design partners' ability to commercialize this breakthrough technology," says George N. Alexy, President and CEO of FyreStorm. "With our unrivaled backing, we can continue on our path to unleash a revolution in ICs for power management."
Previously, Rounds A and B were lead by ComVentures and Texas Pacific Group (TPG) Ventures, respectively. Telos Venture Partners, Sunrise Capital and Western Technology Investment complete the group of organizations funding FyreStorm.
"We're convinced that FyreStorm's disruptive, predictive technology will be embraced by mobile device manufacturers looking to replace 40-year old reactive analog solutions for power management," notes Worldview Technology's General Partner James Wei. "FyreStorm reduces parts count by more than a third with a flexible, software-programmable digital design that enables smaller, lighter, thinner devices for today's mobile generation."
FyreStorm also announced that it has leased and occupied a 20,000 sq. ft. building, also in Sunnyvale, CA. "With approximately double the space of our previous facilities, our new home allows consolidation of all our operations under one roof and provides room for anticipated significant growth in our headcount as we transition from product development to production of our power management solutions," said Anthony G. Bozzini, FyreStorm's Vice President of World-Wide Sales and Marketing.
