Cloud Computing: IO raises $90M to rethink the corporate data center
Grazed from GigaOM. Author: Derrick Harris.
IO Data Centers has raised $90 million for its suite of offerings that rethink the way data centers are built and managed. Its IO.Anywhere units are fully contained data centers in a small package, and its OS software can manage a data center from a smartphone. Building 500-square-foot modules that act like fully functional data centers is capital-intensive work, so when a company like IO Data Centers raises money, it raises a lot. On Wednesday, the company announced a $90 million round led by New World Ventures that follows a $56 million round in 2008 and a $105 million round in 2011.
IO Founder and CEO George Slessman told me during a phone call on Tuesday that the company raised the latest money in order to capitalize on a huge opportunity. One industry group estimates that companies will spend $105 billion building and managing data centers in 2012, and Slessman thinks IO can address a significant portion of that spending, especially as it relates to costs around designing, building and generally operating facilities…


