The funds, which were provided through NewSpring’s growth equity fund – NewSpring Growth Capital II, L.P., will be used to develop new products and expand into additional geographies.
Raritan Inc., a Somerset, NJ-based provider of IT infrastructure management solutions, has received an equity investment of undisclosed amount from NewSpring Capital.
In conjuction with the investment, Marc R. Lederman, a General Partner of NewSpring, will join Raritan’s Board of Directors.
Led by Chairman and CEO Ching-I Hsu, the company currently offers solutions that are designed to help customers, from local organizations to Fortune 500 companies, monitor and manage the energy usage of servers and other IT devices in their data centers.
Raritan has offices worldwide serving 76 countries.