Power Assure Closes $13.5M Series B Funding

Published On September 26, 2011 |

Power Assure, Inc., a Santa Clara, CA-based data center infrastructure and energy management solutions provider, has closed a $13.5m Series B funding.

The round was led by strategic partner ABB Technology Ventures, with participation from existing investors Draper Fisher Jurvetson, Good Energies, and Judith Point Capital.
With this new financing, the company has raised $28.75m to date. It laso received a $5m grant from the U.S. Department of Energy.

Power Assure intends to use the funds to expand its sales and marketing efforts, to increase investments in engineering.

In conjunction with its financing, Andrew Tang, a managing director at ABB Technology Ventures, will join the company’s Board of Directors.

Led by president and CEO Brad Wurtz, Power Assure develops Data Center Infrastructure and Energy Management software for large enterprises, government agencies, and managed service providers. Its solutions are designed to provide visibility, intelligence, analytics and automation to help CIOs, IT directors, and facilities managers optimize capacity, service levels, and power consumption within and across data centers.
Partners include ABB, Cisco, Dell, IBM, Intel, In-Q-Tel, Raritan, UL and VMware.

FinSMEs

26/09/2011

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