IO Closes $90 Million In Funding Led By New World Ventures

IO, the leading provider of next-generation modular data center technology and services, today announced it has raised $90 million in equity from a group led by New World Ventures, a Chicago-based venture capital firm focused on technology innovations that fundamentally change markets. Existing IO investors also participated in the funding.

“From the moment we saw this product, we knew it would revolutionize the industry,” said Chris Girgenti, New World Ventures managing partner and newly appointed member of IO’s Board of Directors. Girgenti added: “Designed from the ground up, IO delivers world class data center 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 $50 million 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 organizations 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,” said 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.” 

About IO
Founded in 2007, IO provides the data center as a service @scale™. IO internet data centers are engineered to deliver the optimal data center capacity, security, network and cloud inter-connectivity for mission critical applications of any scale.  IO operates large data center campuses, featuring over 2 million square feet, hundreds of networks and 300 MWs in North America and Singapore. For more than a decade, IO has earned the trust of the most demanding technology users by delivering the data center at scale to digital-first enterprises, cloud companies, hyperscale service providers, governments and businesses worldwide. To learn more about IO @scale™, visit io.com.

IO, the IO logo and all other IO trademarks are owned by IO Data Centers, LLC and its affiliates. ©2017.

Media Contacts:
Ashley Telidis
IO
602.685.6287
atelidis@io.com

Disclaimer: All information provided is subject to change without notice. IO is not responsible for errors or damages of any kind resulting from the use of the information contained herein. Although IO has made reasonable efforts to ensure the accuracy of the information presented, IO makes no warranty or guarantee, either expressed or implied, as to the accuracy, completeness and/or reliability of the information contained herein.



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