Primarion announced that it continues to receive strong financial support with a new investment from W Capital Partners, a New York City-based private equity firm, and continuing investments from Accel Partners, APV Technology Partners and Lehman Brothers. As a result, Primarion has raised in excess of $22 million in Series D equity financing, which it is using to further expand its global resources and market presence, and accelerate the development of the industry’s most cost-effective digital power control solutions.
“The last year has been incredibly strong for Primarion. Through this round of funding, our investors recognize that Primarion is building substantial momentum, thanks to our innovative approach to meeting the current and future demands for digital power,” said Ron Van Dell, president and CEO, Primarion. “The next generation of processors for computing, graphics and data communications present the engineering community with difficult power requirements. With our digital power solutions in production, Primarion is ideally suited to help companies overcome these challenges.”
“W Capital Partners is excited to be part of this investment round because of the tremendous market traction that Primarion has established and continues to build upon,” said Stephen Wertheimer, founding partner, W Capital Partners. “We’re confident that the Primarion team, strategy and products have positioned the company to become a global leader in the digital power market.”
Primarion has significantly expanded its global operations in the past six months to support a number of revenue-generating design wins. In particular, the company now offers field application support in the Dallas and Research Triangle Park, N.C., areas, as well as in California and Taiwan. The field applications personnel and centers will support Primarion’s current customer base and provide a strong, local market presence for future design wins.