IO Data Centers, a provider of ‘modular data center technologies’ has raised $90m, which includes a $50m investment from New World Ventures (NWV), an investment arm of the Pritzker family, with the remainder invested by previous backers including financial services firm JP Morgan.
The deal is NWV’s largest ever investment to date for the unit which normally invests around $3m to $7m in early-stage companies. IO, which was founded in 2006, has now raised $260m in its history.
IO offers companies an alternative to outsourced data centers and pre-fabricated modules that can be scaled up or down when required. IO also states that their module design requires less cooling than traditional data centers, thus lowering customer energy bills as well as their carbon footprints.
The company currently has nearly 700 customers including the recently announced partnership with Goldman Sachs (GS) who have agreed to deploy IO modules in the US, UK and Singapore.
IO said the money will help accelerate deployment of its data center modules for customers, and boost its software and hardware development efforts. “We are very excited to have New World Ventures as an investor and partner,” said George Slessman, IO’s 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.”