Device42 Completes Recapitalization, 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.
In connection with the transaction, several industry experts will be joining Device42’s board of directors:
- Dan Phillips: Dan 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: Darren 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.”
Device42 was advised exclusively on its recapitalization by investment bank DCS Advisory.
About DCS Advisory
DCS Advisory LLC is a leading investment bank specializing in M&A and private capital raising. DCS Advisory is a wholly owned subsidiary of Daiwa Capital Markets America Holdings Inc. and is an indirect subsidiary of Daiwa Securities Group Inc. Along with sister company DC Advisory, other Daiwa affiliates, and alliance partners, DCS Advisory is part of an established global brand with more than 900 professionals in 34 offices throughout the Americas, Europe and Asia. DCS Advisory covers a broad range of industries including Aerospace, Defense and Government Services, Business and Tech-Enabled Services, Industrials, Consumer, Retail and Leisure, Media and Telecom, and Technology and Software. For more information please visit dcsadvisory1.staging.wpengine.com.
These materials have been prepared by DCS Advisory solely for informational purposes and do not constitute or form part of, and should not be construed as, an offer to sell or issue, a solicitation of an offer to buy, or a recommendation with respect to any securities.