What is Device42?
Founded in 2010 and based in West Haven, CT, Device42 Inc. specializes in the Data Center Infrastructure Management (DCIM) software field. The company delivers robust solutions designed to help organizations worldwide efficiently manage their complex IT infrastructures. Device42's platform provides a high-value approach to IT asset discovery, dependency mapping, and cloud management, enabling businesses to gain critical visibility and control over their data center environments. Its offerings are crucial for organizations seeking to optimize operations, reduce costs, and enhance security within their IT ecosystems.
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 unspecified investor participated in a significant funding round, contributing to the company's growth capital. Further details regarding this entity's investment focus were not disclosed.
PPP
Public-Private Partnership
What's next for Device42?
The recent major strategic investment signals a pivotal phase for Device42, likely indicating a move towards scaling operations, expanding market reach, and potentially accelerating product innovation. With a history of securing various forms of capital, including private equity and debt financing, the company appears well-positioned to leverage this new backing for strategic growth initiatives. Future developments may include enhanced cloud integration capabilities, advanced analytics, and broader enterprise adoption as organizations increasingly rely on sophisticated DCIM tools to navigate the complexities of modern IT infrastructure.
See full Device42 company page
