CoolIT Systems Secures Growth Capital From Vistara Capital Partners
The financing package will scale with CoolIT’s anticipated expansion.
Vistara’s investment was made by the recently announced Vistara Technology Growth Fund III LP, a USD$100 million fund focused on providing flexible and tailored debt financing for technology companies across North America.
“With our order backlog expanding by 400% in the last year, access to additional capital is critical for continued success,” said Peter Calverley, CFO, CoolIT Systems. “With the creative financing package provided by Vistara the financial foundation is in place for 2019 to be another year of significant growth in data center liquid cooling sales for CoolIT.”
“CoolIT Systems is at an exciting inflection point, managing a significant expansion of their business as liquid cooling is experiencing accelerated adoption by data center OEMs and operators,” said Noah Shipman, partner, Vistara. “Investment structures that efficiently facilitate growth over time is a hallmark of Vistara. We are thrilled to invest in and support another emerging Canadian technology leader.”