Involta LLC Announces Successful Capital Raise of $8 Million of Equity to Fund the Addition of Two New Enterprise Data Center Facilities

News provided by

Dec 21, 2010, 09:54 ET

CEDAR RAPIDS, Iowa, Dec. 21, 2010 /PRNewswire/ -- Involta LLC today announces that it has completed a successful capital raise of $8 million. The capital raised will be used to fund two new enterprise, colocation data centers which will include a new facility in Akron, Ohio as well as another facility that will be announced in the coming months. Financing in the equity round was led by Stephen C. Gray of Gray Venture Partners, LLC. Mr. Gray will serve as chairman of the Involta board of directors.

Involta also announces the addition of three new directors to the firm's board. Joining the Involta board of directors are Jeff Benjamin, a New York financier, Mary Quass, CEO of NRG Media and Jim Hoffman, Executive Director of 2001 Development Corporation.

"We are very pleased with the results of the equity round," said Bruce Lehrman, CEO of Involta. "Our ability to raise funds is testimony to the success of the latest Involta data center in Eastern Iowa. The capital raised in this round will allow the business model driving that success to be replicated in other Midwest markets."

"Demand for quality data centers is currently exceeding supply," said Steve Gray, Involta board chairman. "Many organizations are looking to colocation to avoid the capital expense or due to the operational challenges of managing these complex facilities themselves. Involta is well positioned to take advantage of these trends."

Involta announced the addition of its Akron facility in August, 2010 and expects to make public the location of its newest facility in the coming months.

About Involta

Involta provides full service, SAS 70 audited data center facilities and the expertise to manage and protect mission critical systems.

With highly secure physical data center facilities and expertise in data protection and disaster recovery, Involta is a single source partner to ensure critical information is protected and constantly available.

Founded in 2007, Involta was ranked #40 on the 2010 Inc 500 list of the fastest growing private companies in the United States and is a recognized and preeminent provider of data center facilities and technology services in the Central United States.