Fresh on the heels of its major win at Goldman Sachs, Phoenix-based IO has raised a bundle of cash to drive its modular data center plans forward globally. Moreso than just about anyone in the sector, IO has put major effort into the modular movement and has been gaining traction steadily. A $90M war chest will give them some firepower to keep pushing.
The funding round was led by New World Ventures, which is chipping in $50M — the largest single transaction the fund has ever done. New World focuses on technology innovations with the potential for fundamentally changing markets, and apparently they really like IO’s modules. The remaining $40M is coming from IO’s other investors, which include Sterling Partners and JP Morgan Asset Management according to Data Center Knowledge, which has additional details as well.
IO’s main modular buildouts are in New Jersey and Phoenix, but the Goldman deal has them placing modules in Singapore and London. They clearly hope to take that idea to more geographies as well, bringing infrastructure directly to the large and multinational enterprise market.
If you haven't already, please take our Reader Survey! Just 3 questions to help us better understand who is reading Telecom Ramblings so we can serve you better!Categories: Datacenter · Financials