Stack Infrastructure, the recently launched colocation provider, has secured $850 million to build more data centers.
The American wholesale colocation provider- which was launched less than a month ago - currently has a data center footprint of 100MW worth of power capacity across 1.5 million sq ft of property. Stack will use the financial injection to grow this footprint.
Stacks of cash
“This financing immediately positions Stack with the long-term capital structure to support the scaled critical infrastructure demands of our clients,” said Brian Cox, CEO. “There is much more to come."
Stack currently operates eight data centers in six markets in North America: Atlanta, Georgia; Chicago, Illinois; Dallas/Fort Worth, Texas; Northern Virginia; Portland, Oregon; and Silicon Valley, California.
The company was created by investor IPI Data Center Partners by combining Infomart Data Centers with assets from T5 Data Centers. The company has since announced it will continue T5's plan for a large campus in Fort Worth at the Alliance Texas business park.
IPI Data Center Partners has been one of the major new investors in the data center industry. The group is a joint venture between real estate investor Iron Point Partners and Iconiq Capital, a wealth management firm whose clients include some of Silicon Valley’s richest players, reportedly including Facebook CEO Mark Zuckerberg and LinkedIn chairman Reid Hoffman. IPI was created in 2016, and has announced a series of investments in wholesale data center projects.