Data center services provider Involta recently received a total investment of $50 million from M/C Partners and Morgan Stanley.
Involta now has two Iowa data centers, a Minnesota data center, an Idaho data center and an Arizona data center in its service portfolio. It is currently working on building its new Boise, Idaho data center to bring its facility total to eight.
With the new funding, the company will be able to expand into additional markets, as well as make strategic acquisitions and boost shareholder liquidity. Involta CEO Bruce Lehrman said the $50 million is the biggest single investment the company has seen since it was first founded in 2007. To date, the company has received $29 million, with the other $21 million available for future needs. Thanks to the additional funding, Lehrman said Involta can make strategic moves to boost its overall service footprint. With the current rising demands, this will help address clients’ needs.
“What’s really driving us is more and more organizations are looking to outsource the infrastructure side of their IT,” Lehrman said. “It’s a booming sector within the booming data center industry. Not every company has the wherewithal, the expertise, the financial resources to establish their own in-house data center.”
M/C Partners managing partner Gillis Cashman noted that Involta is in a good position to provide the services and platforms today’s customers are demanding.
“We envision Involta playing a leading role in the data center space in the coming years, particularly in tier II and tier III markets that are still very underdeveloped in terms of infrastructure,” Gillis said.