A screenshot of the Power Assure DPM dashboard, showing real-time power analytics
(WEB HOST INDUSTRY REVIEW) — Data center optimization software developer Power Assure (www.powerassure.com) announced on Monday it has closed a new round of funding, securing $13.5 million in Series B financing.
Strategic partner ABB (www.abb.com) led the round while existing investors Draper Fisher Jurvetson, Good Energies, and Judith Point Capital all participated.
The move comes a year after Power Assure received a $1.5 million investment from ABB.
Power Assure’s strong support by the investment community comes after many significant milestones in the past six months, including NASA standardizing on Power Assure across all of its more than 75 data centers, the shipping of Power Assure’s EM/4 energy management software, the release of its PAR4 energy efficiency metric, and a joint standard with Underwriters Laboratories titled UL2640 based on its PAR4 metric.
The company has also won several accolades and awards, including Gartner Cool Vendor in DCIM tools, Red Herring North America Top 100 company, Data Center Change and Innovation award winner, and GigaOm Structure 50 company.
The financing will be used to expand Power Assure’s sales and marketing for continued growth as the leader in data center infrastructure and energy management solutions.
It will also be used to increase investments in engineering to further its technology advantage.
In conjunction with its investment, ABB Technology Ventures managing director Andrew Tang will join the Power Assure board of directors.
“We are very pleased to have secured a new funding round led by our strategic partner ABB with reinvestments from our existing top-tier backers,” said Brad Wurtz, president and CEO of Power Assure. “Earlier this year we integrated our EM/4 software with ABB’s automation and control software and devices. This agreement deepens our partnership and brings Power Assure global reach and a well-established network of sales and support professionals with access to our target markets in the data center. This partnership and new financing will help us rapidly scale our business.”
With this new round of equity financing, Power Assure has raised $28.75 million to date, in addition to the $5 million matching-fund grant it received from the US Department of Energy.
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