What is Device42?
Founded in 2010 and headquartered in West Haven, Connecticut, Device42 provides a comprehensive suite of software solutions designed to simplify the management of intricate IT environments. The company operates at the intersection of asset management, dependency mapping, and infrastructure oversight. By delivering high-value insights into data center operations, Device42 enables global enterprises to mitigate risks, reduce operational overhead, and improve the agility of their IT ecosystems. Its platform serves as a single source of truth for complex, hybrid-cloud infrastructures, positioning the firm as a leader in the DCIM software sector.
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 is the state's 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
Undisclosed investor participating in the funding round.
PPP
Public-Private Partnership
What's next for Device42?
With the backing of strategic capital, Device42 is well-positioned to accelerate its product roadmap and expand its footprint in the competitive enterprise software market. The focus remains on enhancing automated discovery tools and deepening integration capabilities within cloud-native environments. As organizations continue to prioritize digital transformation and infrastructure resilience, Device42 is poised to leverage its recent financing to capture additional market share, refine its AI-driven analytics, and scale its global sales operations to meet the rising demand for sophisticated IT infrastructure management solutions.
See full Device42 company page
