CoolIT Systems, a Calgary-based liquid cooling technology company, has raised undisclosed debt financing from Vistara Capital Partners.
Vistara invested through its third technology debt fund, Vistara Technology Growth Fund III, which was launched in October with a $130 million (US$100 million) target.
Founded in 2001, CoolIT provides modular, scalable liquid cooling solutions for data centres. It will use the funds raised to expand production capacity in response to demand from new and existing global customers.
CoolIT is backed by Canadian venture capital firm iNovia Capital, U.S. firm Chart Venture Partners and other investors.
Cooling Technology Leader CoolIT Systems Secures Growth Capital from Vistara Capital Partners
Vistara Capital Partners is proud to announce our investment in CoolIT Systems, the leader in modular liquid cooling technology targeted at data centers. This investment, made by the Vistara Technology Growth Fund III LP, is expected to bolster CoolIT’s anticipated growth as the demand for liquid cooling technology continues to rise.
CALGARY, AL – CoolIT Systems, the world leader in modular, scalable data center liquid cooling technology, has partnered with Vistara Capital Partners as the company expands production capacity to service new and existing global data center customers.
Vistara’s investment was made by the recently announced Vistara Technology Growth Fund III LP, a USD$100 million fund focused on providing flexible and tailored debt financing for technology companies across North America.
“With our order backlog expanding by 400% in the last year, access to additional capital is critical for continued success,” said CoolIT Systems CFO, Peter Calverley. “With the creative financing package provided by Vistara the financial foundation is in place for 2019 to be another year of significant growth in data center liquid cooling sales for CoolIT.”
“CoolIT Systems is at an exciting inflection point, managing a significant expansion of their business as liquid cooling is experiencing accelerated adoption by data center OEMs and operators,” said Vistara Partner, Noah Shipman. “Investment structures that efficiently facilitate growth over time is a hallmark of Vistara. We are thrilled to invest in and support another emerging Canadian technology leader.”
About Vistara Capital Partners
Headquartered in Vancouver BC, Vistara Capital Partners provides highly flexible and tailored technology growth capital for tech companies across North America. Founded, managed, and funded by seasoned technology finance and operating executives, “Vistara” (Sanskrit for “expansion”) is focused on enabling the growth and expansion of its portfolio companies. Additional information is available at www.vistaracapital.com.
About CoolIT Systems
CoolIT Systems specializes in scalable liquid cooling solutions for individual servers through to the world’s most demanding data centers and HPC systems. Through its modular, rack-based Direct Liquid Cooling technology, Rack DCLC™, CoolIT enables dramatic increases in rack densities, component performance and power efficiencies. From Passive Coldplate Loops specifically designed for the latest high TDP processors from Intel, NVIDIA and AMD, to Rack Manifolds and Coolant Distribution Units (CDUs), CoolIT’s reliable technology installs into any server or rack, ensuring ease of adoption and maintenance. For more information about CoolIT Systems and its technology, email or visit https://www.coolitsystems.com/.