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Energy management company Power Assure raises $2.5m in venture funding from venture investor Draper Fisher Jurvetson

5 Aug 2009

Power Assure, Inc, a developer of power management solutions for data centres, has completed its Series A round of funding, raising $2.5m from Draper Fisher Jurvetson and individual investors.

The company also announced its new executive team and members of the board of directors.

Power Assure develops and delivers business automation software that reduces energy use and carbon emissions by an average of 50 per cent in commercial, corporate, and government data centres.

‘Data centre power consumption is the prime pain point for data center operators, representing over $10bn in annual energy expenditures in the US alone and growing at over 12 per cent per year,’ said Josh Raffaelli of Draper Fisher Jurvetson. ‘The industry’s energy intensity and corresponding carbon footprint in a quickly shifting regulatory environment makes data center energy efficiency mission critical. We are very impressed with Power Assure’s innovative software platform and the savings the company’s solution is producing.’

Power Assure’s Board of Directors consists of Brad Wurtz, Clemens Pfeiffer, Josh Raffaelli of Draper Fisher Jurvetson, and L William Krause, president of LWK Ventures, a private investment firm since 1991.

Read a profile with DFJ’s Raj Atluru, here.

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