AUSTIN, Texas--(BUSINESS WIRE)--Vapor IO, provider of the world’s first intelligent, hyper modular data center solution, today announced a Series A funding round led by Goldman Sachs, with participation from AVX Partners. Tom Jessop, managing director at Goldman Sachs, and Chris Pacitti, general partner at AVX Partners, will join Vapor IO’s board of directors.
“For the past nine months we’ve been singularly focused on building a telemetry optimized data center analytics company whose mission is to modernize today’s legacy infrastructure and design,” said Cole Crawford, founder and CEO of Vapor IO. “Recognizing the need for innovation and the now standard deployment of open source technologies, we’re thrilled to partner with Goldman Sachs and AVX Partners to drive full stack data center automation in an industry that has traditionally bifurcated the physical assets from the application.”
With its far-reaching connections and sustained focus on open source technology investments, Goldman Sachs leads the Series A funding round. An early supporter of the Open Compute Project, Goldman Sachs is continuing to help rethink data center service optimization through this investment. AVX Partners was also tapped for its successful past investing in the space. Collectively, the firms bring a wealth of knowledge and will help push the company forward. The funding will be allocated to expanding Vapor IO’s engineering and development teams, accelerating product and company growth.
“Goldman Sachs has a long history of investing in and supporting next generation open source technologies,” said Tom Jessop, managing director at Goldman Sachs. “With Cole’s successful history of founding and leading innovative technology companies, and the potential within the data center market for advancement, we see great opportunity for Vapor IO moving forward. I look forward to joining the board of directors and working closely with Cole and the team.”
Vapor IO was founded by Cole Crawford, an industry veteran with deep expertise in open source hardware and software technologies. With over 20 years of experience in the data center industry, Crawford has co-founded companies and nonprofits alike dedicated to transforming IT such as OpenStack, where he served on the foundation formation committee and the Open Compute Project. where he served as its founding executive director.
“At AVX Partners, we typically focus on emerging companies with early revenue traction. That said, on rare occasions we find a startup, such as Vapor IO, so well positioned and promising that we gladly make an exception,” said Chris Pacitti, general partner at AVX Partners. “With the leadership of Cole Crawford, a proven technology veteran time and again, we strongly believe the Vapor IO team has the vision and knowhow to truly change the data center industry. We’re thrilled to be partnering with their team and look forward to working together closely.”
- Company Products: http://www.vapor.io/products
- Company Blog: http://www.vapor.io/blog
- Twitter: @VaporIO https://twitter.com/vaporio
- LinkedIn: https://www.linkedin.com/company/vapor-io
About Vapor IO
Vapor IO provides the industry’s first intelligent, hyper modular data center solution. Significantly lowering capex and opex costs when building and running data driven data centers, Vapor IO provides an integrated solution to integration problems. Eliminating complex structures and parking lot data centers, Vapor IO offers a true intelligence platform for any data center workload. For additional information, please visit www.vapor.io.