Involta gets $50 million investment
Will enable acquisitions, support more growth
By George C. Ford, The Gazette
Involta, a Cedar Rapids company that operates seven computer data center facilities across the United States, has secured a $50 million equity investment, the largest in its history.
M/C Partners of Boston led the investment, which included Morgan Stanley Alternative Investment Partners. The financing will enable the company to make strategic acquisitions, provide some shareholder liquidity, and support Involta’s rapid growth providing colocation and managed services throughout the country.
“We are thrilled to be partnering with M/C Partners for the next chapter of our growth,” said Bruce Lehrman, Involta chief executive officer. “They have a tremendous reputation in our industry and share our vision for continued expansion.”
Involta, founded in 2007, is constructing an eighth computer data center in Boise, Idaho. The company’s growth has been accelerated with the recently-launched Involta CompliantCloudSM services platform, comprised of infrastructure, storage, network and backup and recovery services housed in its data centers.
“Involta is a clear leader in the markets they serve,” said Gillis Cashman, managing partner at M/C Partners. “The company has built a strong reputation and a scalable platform for continued growth.”
Lehrman said increased demand for co-location and managed information technology infrastructure services has been a catalyst for the company’s expansion.
“The demand for the ability to share associated costs of housing and managing mission-critical systems and the option of off-site data storage for disaster preparedness and compliancy planning is becoming increasingly important to organizations,” Lehrman said. “Building and maintaining a separate, stand-alone data center is very costly.
“By leveraging co-location, organizations can realize the advantages of an innovative data center facility while actually reducing capital expenditures.”
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