Private equity firm NewSpring Capital has made an investment to support Raritan’s growing power management business that helps companies improve energy efficiency and operations in their data centres. Funds were provided through NewSpring’s growth equity fund — NewSpring Growth Capital II, LP.
Raritan plans to use the investment proceeds to facilitate its rapid and accelerating growth in the data centre power management market through the development of new products and expansion into additional geographies.
As a leading provider of secure IT infrastructure management solutions, Raritan entered the power management solutions business three years ago to help companies monitor and manage the energy usage of servers and other IT devices in their data centres. Raritan’s power management solutions include award-winning software offerings – Power IQ and dcTrack – and the industry’s largest portfolio of intelligent power distribution units that uniquely provide detailed, accurate energy information.
Raritan’s intelligent power distribution units and energy management software are used by customers of all sizes, from local organisations to leading Fortune 500 companies, and across every industry.
"We are in the enviable position of experiencing rapid growth in our power management business, and having world-class customers — such as ADP, Cisco, Deutsche Bank, eBay and Royal Caribbean — embrace our power solutions," says Bob Dennerlein, Raritan Chief Financial Officer. "We are delighted to have NewSpring Capital, which is synonymous with innovation and in creating value, help us on our growth path. It is a major vote of confidence in the growth potential of the power management space and in Raritan’s ability to deliver technology innovation to this market."
