IO closes USD90m in funding led by New World Ventures
IO, a provider of next-generation modular data centre technology and services, has raised USD90m in equity from a group led by New World Ventures, a Chicago-based venture capital firm focused on technology innovations.
Existing IO investors also participated in the funding.
"From the moment we saw this product, we knew it would revolutionize the industry," says Chris Girgenti, New World Ventures managing partner and newly appointed member of IO's board of directors. "Designed from the ground up, IO delivers world class data centre infrastructure capacity at substantially lower capital cost, with significantly shorter lead times, while providing industry leading energy efficiency. Led by a terrific and deep team, IO is set to make some big waves."
The New World Ventures investment of USD50m is the largest single transaction in the fund's 15-year history.
IO delivers Data Center 2.0 technology to the world's largest enterprises, governments and service providers. Data Center 2.0 solutions enable organisations to shift from real estate-embedded infrastructure to efficient, sustainable, and software-driven modular installations. IO's Data Center 2.0 products and services allow companies to implement only the data center capacity they need to support business requirements, while also providing the ability to add more capacity quickly without IT downtime. IO's integrated hardware and software technology enables significant operating and capital expense savings and supports energy conservation initiatives.
"We are very excited to have New World Ventures as an investor and partner," says George D. Slessman, IO chief executive officer. "With this round of capital investment, we will expand our sales footprint globally and position IO as the global leader in Data Center 2.0 technology."
- Special Reports
- By Location
- By Subject
Latest Special Report
- How to set up a hedge fund