Power Assure raises $13.5 Million for Energy Management Solutions

Power Assure, the Santa Clara, Calif. – based data center power-saving software company, has recently announced the end of its series B funding round which has brought the firm the amount of $13.5 million. This funding round has been led by the strategic partner, ABB, along with the previous investors from Draper Fisher Jurvetson, Good Engines, and Point Judith Capital.

Tarak Mehta, the Head of Low Voltage Products division at ABB, stated the following: “The data center market continues to grow at 8 to 12 percent per year. However it is becoming constrained by the availability of power, especially in high density areas where space is a limitation. Power Assure’s server optimization and energy management platform strongly positions the company with a market-leading offering to free up power so customers have additional processing capability. We are looking forward to deepening our strategic relationship with Power Assure through this investment.”

This new amount of money comes after the accomplishments of numerous milestones by the company during the last six months. For instance, NASA has standardized on the company across all of its data centers. Also, Power Assure gas sent its EM/4 energy management software etc. Numerous other measures have been taken in order to reach the imposed milestones, but, after their accomplishment, the company has been acknowledged as a Garten Cool Vendor in DCIM tools, Red Herring North America Top 100 company, Data Center Change and Innovation award winner and GigaOm structure 50 companies.

The company manages large scale data centers which it combines with powering multiple computers on one physical server, managing to decrease the costs and offer astonishing solutions. Power Assure offers software which can track and analyze enterprise- and government-size data such as to give the opportunity to managers to make better decisions regarding their way of running the servers and optimizing the usage in order to save power and to free up server space.

Brad Wurts, the president and CEO of power Assure, has stated the following: “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. 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.”

The money raised in this new funding round is intended to be used in order to grow the marketing and the sales teams as for the company to manage to become the leader in the field of data center infrastructure and energy management solutions. Also, the leaders of the company intend to use some of this amount of money in order to increase the engineering as to allow the company to develop faster and better. As a result of this new funding round, Andrew Tang, one of the managing directors at ABB Technology Ventures is going to join company’s board of directors. The company had managed to raise $28.75 up to this moment, in addition to which Power Assure has also gained $5 million from a marching-fund grant offered by the US Department of Energy.