Phoenix-based data center provider IO has raised US$260m in credit from a syndicate of banks led by Wells Fargo.

In this round, the group of banks funding the provider of modular data center solutions called IO.Anywhere and of the data center infrastructure management (DCIM) software IO.OS has been expanded substantially.

The original group consisted of Wells Fargo and Mutual Bank of Omaha. In the most recent round, the two banks were joined by Bank of America, Bank of Montreal, JPMorgan Chase Bank, Royal Bank of Canada, National Bank of Arizona, Goldman Sachs Lending Partners and Morgan Stanley Bank.

Frank Pizzo, managing director at Wells Fargo Securities, said, “We are pleased to have led the charge in this financing for IO, and we look forward to IO’s continued success and growth.”

The data center provider's CEO George Slessman, said, “This new credit facility will help IO to continue to design, engineer and deliver the world’s leading software-defined data center technology. Our IO Intelligent Control platform solves the data center needs of our customers in an efficient, scalable and cost-effective manner.

“We are pleased to continue our relationship with Wells Fargo and Mutual of Omaha and welcome the new members of the bank group to IO,” he added.