Monday, July 2, 2007

newScale Lands $11M

Foster City-based newScale, a provider of software for the IT services management market, said today that it has closed on $11M of funding. The funding came from new investor Wasatch Cross Creek Capital, along with existing investors Chess Ventures, Crosslink Capital, Menlo Ventures, Montagu Newhall Associates, Inc., New Enterprise Associates (NEA) and Parker Price. The firm said that the round was oversubscribed. newScale develops software used for managing IT operations. More information »