CBC backs US-based power solutions provider
China Broadband Capital (CBC) has participated in a $22 million funding round for IntelliBatt, a US-based power solutions provider of power supply and battery monitoring systems. The round was led by Columbia Capital.
The capital will be used to fund the company's growth initiatives as well as the expansion of management capabilities. Tom Barton, former head of Rackable Systems, will join the company as the CEO; Todd Ford, who was previously president at Rackable Systems, will become co-CEO and COO.
Steve Cotton and Mike Brinck, both founders of IntelliBatt, will maintain active roles in the day-to-day operations of the company as executive chairman and president, respectively.
"With the combined team of IntelliBatt, Tom, Todd, Columbia Capital and CBC-Capital, we will be able to expand our core offerings to enable our customers to operate more facets of their infrastructure at optimum efficiency and reliability," Brinck said in a satement.
Founded in 1992 under the name Data Power Monitoring Corporation, IntelliBatt designs and manufactures uninterruptible power supply and battery monitoring solutions. Its major customers include the likes of Charles Schwab, Equinix, Digital Realty Trust and Savvis.
CBC focuses on tech, media and telecom investments. In April, it led a Series C funding round for CDP Group, a human capital management services provider in Greater China and Asia that integrates traditional HR services through a cloud-based platform.
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