Newscale lands $2.2M to monitor IT services

NewScale, a provider of software that helps companies track how much they are using IT services — and how much it is costing them — has raised $2.2 million of a targeted $3 million in rights, reports VentureWire.

Almost exactly two years ago, the San Mateo, Calif., company raised $11 million in a fourth round of funding provided by Chess Ventures, Crosslink Capital, Menlo Ventures, Montagu Newhall Associates, New Enterprise Associates, Parker Price Venture Capital and Wasatch Cross Creek Capital.

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