Data center provider Involta gets $50M in equity funding from M/C Partners
Involta has secured $50 million in an equity financing round from M/C Partners, enabling it to make acquisitions, provide shareholder liquidity and support the growth of its colocation and managed services throughout the United States.
Joining M/C Partners, which led the institutional funding round, was Morgan Stanley Alternative Investment Partners.
Since its founding in 2007, the company's growth has been driven by the launch of its Involta CompliantCloudSM services platform, which includes a mix of infrastructure, storage, network and backup and recovery services that it offers out of its data center facilities.
Involta is one of several data center investments M/C Partners has made in recent years. Other past portfolio companies include Fusepoint, a managed hosting and colocation provider that was sold to Savvis (now CenturyLink) in 2010, and Attenda.
The timing to enter the data center race could not be better. According to DCD Intelligence, the current amount invested in data center outsourcing and colocation rose 13 percent over the past 12 months and is now in the region of $8.8 billion. By the end of 2014, the research firm expects a further increase of 15 percent.
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