Pivotal Systems Raises $4.6 Million in Funding to Meet Growing Global Demand for Revolutionary Gas Flow Controller (GFC) Product

PLEASANTON, Calif., Dec. 14, 2012 (GLOBE NEWSWIRE) -- Pivotal Systems Corporation, a developer of best-in-class monitoring and process control technology for the semiconductor manufacturing industry, today announced that it has raised $4.6 million in new equity funding. Firsthand Technology Value Fund, a venture fund that invests in disruptive technologies, led the funding round.

Pivotal Systems' flagship Gas Flow Controller (GFC) product, which was launched in early 2012, replaces traditional mass flow controllers (MFCs) and provides real-time, in situ process monitoring and control technology to semiconductor manufacturers. With semiconductor manufacturing process technology scaling below 22 nanometers, Pivotal Systems is seeing a significant increase in the demand for real-time monitoring and control solutions. "Customer acceptance of and demand for Pivotal's solutions are exceeding expectations. This recent funding enables us to put the resources in place to begin our volume production ramp to meet that demand," said John Hoffman, Pivotal Systems' Chief Executive Officer.

"We are excited that Pivotal has taken a fresh look at what a mass flow controller can do and has developed a truly game-changing product," added Kevin Landis, CEO of Firsthand Technology Value Fund.

Pivotal Systems has experienced rapid expansion and increased penetration of its GFC product line around the world. "Over the last year, our GFC has provided leading device manufacturers with compelling results in terms of accuracy and repeatability. It is not only the fastest and most accurate MFC in the world, but also the only MFC that continually monitors its flow in real time as wafers are being processed. Its industry-leading performance and revolutionary approach to flow control is changing the industry," said Dr. Joseph Monkowski, Pivotal's President and Chief Technology Officer.

Pivotal Systems has accelerated its efforts to integrate the full capability of the GFC into leading OEM production tools. "Our focus to date has been primarily on validating the improved process results that were expected with GFC adoption. Those expectations have been exceeded and we are now working with our customers to ensure that our solutions can be easily designed and integrated into their new and existing tool platforms," said Nori Kobayakawa, VP of Marketing and Global Sales at Pivotal.

About Pivotal Systems

Pivotal Systems Corporation provides best-in-class monitoring and process control technology for the semiconductor manufacturing industry. Pivotal's vision is to enable an order of magnitude increase in fab productivity and capital efficiency for current and future technology nodes. This vision is achieved through its real time in situ process monitoring and control solutions. Pivotal Systems is based in Pleasanton, California; the company is led by veterans of the semiconductor and high-tech industries. For more information about Pivotal, please visit www.pivotalsys.com, or send an email to info@pivotalsys.com.

The Pivotal Systems Corp. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=16282

About Firsthand Technology Value Fund

Firsthand Technology Value Fund, Inc. (Nasdaq:SVVC) is a publicly-traded venture capital fund that invests in technology and cleantech companies. More information about the Fund and its holdings can be found online at www.firsthandtvf.com.

CONTACT: Nori Kobayakawa Pivotal Systems Corp. (925) 924-1480 x233 nori.kobayakawa@pivotalsys.com

Source:Pivotal Systems Corp.