PCH International, Gadget Maker Extraordinaire, Raises Another $26 Million
The company designs, produces and packages electronics and accessories in partnership with major gadget brands. Revenue has skyrocketed, from next to nothing a few years ago to $400 million last year. And they are extremely profitable, says Casey. If you’re a gadget freak, there’s a good chance something they’ve made is in your pocket or on your desk.
PCH is backed by U.S. venture capitalists. They raised $21 million in 2008 from Lightspeed Venture Partners, Norwest Venture Partners and Focus Ventures.
Now they’ve taken $26 million more from those same investors. And two new investors have joined this round as well – Triangle Peak Partners and Cross Creek Capital.
Why raise more capital when the company is already so profitable? Casey says the Chinese domestic market is growing at a very fast pace, and he needs to expand to meet this new demand. “We’re opening new facilities to serve the Chinese domestic market,” he said with his crazy-unintelligible Cork accent.