Munich-based venture capital firm Target Partners has invested with Thomas E. Noonan and TechOperators in JouleX, an Atlanta-based developer of software for reducing the energy usage of IT networks.
JouleX will use the funds to further expand development and sales of its products in the US and EMEA.
“JouleX convinced us with its clear business case, stable and scalable technology and first class team,” says Olaf Jacobi (pictured), partner at Target Partners. “Through our industry contacts we were able to supplement the management team of founder Josef Brunner by successfully recruiting Tom Noonan as chief executive and René Seeber as chief technology officer.”
Brunner, a Munich-based serial entrepreneur, founded JouleX in 2009.
Some 60 per cent of the over 2,000 large companies polled by Forrester Research in Europa and North America in 2009 stated that they were enthused about green IT – nine per cent more than in 2008.
“Lower energy usage in the IT infrastructure also lowers overall costs to the company. JouleX’s software plays an active role in energy management,” says Brunner. “JouleX’s solution helps companies visualize energy usage patterns in the overall framework of the company’s existing IT system, showing the energy consumption levels of individual network components and employees and optimizing energy usage. That helps lower costs, a winning situation for the customer.”
