Novva Data Centers, which operates data center campuses in Colorado Springs, Colorado, and West Jordan, Utah, raised $355 million in capital from CIM Group, bringing the company's total equity commitment to Novva to $450 million in just over two years.
The funding will support Novva's plans to expand across the United States in order to offer 1,000 MW of designed data center capacity by 2027 at several strategic, yet-to-be-named locations.
It also supports CIM Group and Novva's ongoing partnership to create a world-class product, as well as a unique, bespoke "wholocation" experience to customers. Wholocation refers to a combination of wholesale scale and retail colocation, which provides the ability to serve clients of any size and scalability needs — from those requiring 1 cabinet to 1,000+ cabinets.
"This equity investment from CIM Group will allow Novva to continue delivering on our company vision of providing the best wholesale and multi-tenant colocation infrastructure services to clients at the lowest possible cost," said Novva CEO Wes Swenson. "We're thrilled to have a partner like CIM Group that shares the same vision of delivering a bespoke, premium data center experience to each and every client."
"CIM Group is excited to continue to invest in Novva Data Centers' growth strategy as Novva demonstrates it is among one of the most innovative data center developers and operators in the industry." said Avi Shemesh, Co-Founder of CIM Group.
