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