i/o Raises $105M in Growth Capital

i/o, a Phoenix-based company that designs, engineers, and delivers digital energy technology for large enterprises, governments, and service providers, raised $105m in growth capital.
The round was led by existing investor Sterling Partners and new investors managed by J.P. Morgan Asset Management, with participation from the company’s management.
The company intends to use the funds to accelerate delivery of its products and services, increase the ANYWHERE™ modular data center production capacity and expand research and development programs.
Commenting on the funding, George D. Slessman, CEO of i/o, said, “This new round of capital allows i/o to accelerate our Data Center as a Service (“DCaaS™”) delivery plans in North America and to fund expansion plans in Europe and Asia.
“In addition, we will use the proceeds of this financing to fulfill orders for our i/o ANYWHERE™ modular data center technology from enterprise customers across the globe,” Slessman added.
i/o recently opened its third modular data center location, i/o NEW JERSEY and commenced work on the second phase of i/o PHOENIX.

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