IntelliBatt has announced that it is has secured a $22 million equity investment, led by Columbia Capital, with participation from CBC-Capital, private investors, and incoming executives. The capital will be used to fund the company's growth initiatives and expansion of the product line.
The company also announced Columbia's backing of two industry veterans, who will be responsible for driving the company's next stage of growth. The executive appointments include Tom Barton, new CEO, formerly the CEO of Rackable Systems, Inc., who previously held senior management positions at Red Hat and Cygnus Solutions; and Todd Ford, Co-CEO and COO, formerly President at Rackable Systems, Inc., CEO at FCC, Inc. and CFO at Noosh, Inc.