What is Device42?
Founded in 2010 and based in West Haven, CT, Device42 Inc. provides comprehensive Data Center Infrastructure Management (DCIM) software. Its solutions are designed to enable organizations globally to efficiently manage complex IT infrastructures. The company's offerings are crucial for businesses seeking to gain visibility and control over their data center assets, optimizing operations and reducing risks associated with IT management.
How much funding has Device42 raised?
Device42 has raised a total of $39.5M across 4 funding rounds:
Private Equity
$3.5M
Other Financing Round
$1M
Unspecified
$34M
Debt
$1M
Private Equity (2014): $3.5M with participation from Connecticut Innovations
Other Financing Round (2015): $1M led by Connecticut Innovations
Unspecified (2019): $34M supported by Unspecified
Debt (2020): $1M featuring PPP
Key Investors in Device42
Connecticut Innovations
Connecticut Innovations (ctinnovations.com) is Connecticuts strategic venture capital arm and quasipublic investment agency, providing equity and debt financing, strategic guidance, and connections to help innovative, growing companies in the state scale, with dedicated funds for sectors like AI/quantum, climate tech, and biosciences.
Unspecified
An undisclosed investor participated in the funding round, contributing to the company's capital. Further details regarding this entity's investment focus are not publicly available.
PPP
Public-Private Partnership
What's next for Device42?
The substantial enterprise-level funding and recent strategic investment indicate Device42 is poised for accelerated growth and market penetration. This capital infusion is likely to fuel further product development, enhance sales and marketing initiatives, and potentially support strategic acquisitions. The company's focus on DCIM positions it to capitalize on the increasing complexity of IT environments and the growing demand for robust infrastructure management solutions, suggesting a future of continued expansion and innovation.
See full Device42 company page
