I/O Seals $105M Growth Investment

Phoenix-based i/o, which develops digital energy technology, has raised a whopping $105 million in growth financing. Existing shareholder Sterling Partners led the round, which included participation from new investors managed by J.P. Morgan Asset Management. The money will help the company ramp up production of its modular data center, as well as expand research and development. Signal Hill Capital Group served as financial advisor to i/o. Sterling Partners has offices in Chicago, Baltimore and Miami.

North AmericaUSBriefs