– USA, CT – Device42 is a market leader in software that automatically and agentlessly discovers the entire IT infrastructure, today announced that the company completes a recapitalization and secures $34m to accelerate growth. The funding round will enable the Infrastructure Discovery and Application Mapping Software leader to increase product development and more than double the size of the workforce in 2019.
The Device42 software provides accurate, comprehensive and current insight into any computing environment including application dependencies. Customers in more than 60 countries including Global 2000 clients and Systems Integrators use these capabilities as they manage and modernize their IT infrastructure and application landscapes and adopt DevOps practices.
In connection with the transaction, industry experts, Dan Phillips and Darren Battistoni, will be joining Device42’s board of directors:
- Dan Phillips spent five years as CEO and Chairman of the Board of CloudHealth Technologies, during which time the CloudHealth established itself as the preeminent technology company in the fast-growing emerging sector of cloud service management.
- Darren Battistoni is a Managing Director at Charlesbank Capital Partners and has extensive experience in the cloud management and infrastructure sectors. Most recently Darren served on the board of Logicworks, a leading cloud automation and managed services company.
In a statement, Dan Phillips, former CloudHealth CEO said that “In an explosive cloud management market, Device42 is clearly leading the next wave for hybrid cloud visibility and management. Device42 is well positioned to be the leading single pane of glass management solution in this disruptive market for many years to come.”
In a statement, Raj Jalan, CEO said that “We are excited about this new round of capital and the experience we’re adding to the board. We are confident that the new capital plus our new presence in the AWS marketplace will ensure rapid growth and an ability to continue to offer the industry leading solution.”
For more information : https://www.device42.com
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