Servergy Inc raises USD 20 million from Series C round
Servergy Inc was able to close its Series C funding round with USD 20 million. Accredited investors of The Williams Financial Group participated in the private funding round. Proceeds from the funds will be used for the launch of the company's new class of Cleantech Servers. The financing will enable Servergy to hire personnel as well as build the infrastructure necessary to fuel the sales of Servergy's Cleantech Servers. It will also facilitate the engineering completion of the Servers that are made in the US.
Cleantech Servers are made using the company's Cleantech Architecture. They are ideally used for the cloud, big data and caching and storage applications. Their newly-launched Servergy CTS-1000 server utilizes less than 130 watts at full load. It also decreases energy, space, cooling, water, weight and carbon footprints by at least 80%. When compared to the traditional technology used in servers, Servergy's CTS-1000 geared for optimum performance as it is able to increase the input/output or I/O as well as the compute density by as much as 16 times.
Williams Financial Group President David Williams said about the round, "Williams Financial Group is extremely pleased to have participated in Servergy's Series-C round and believes the company is well on its way to deliver on its vision of high-performance, low power and extreme I/O density to the server industry. We are happy to have been able to offer clients such a unique investment opportunity that addresses the rapidly increasing needs of the technology sector for hyper-efficient servers. We look forward to the continued relationship."
Based in Dallas, Servergy said it was already accepting pre-orders for its CTS-1000. Delivery of the product is expected to start in the late fourth quarter this year. Servergy Chairman and Chief Executive Officer Bill Mapp said the company already has its patents in place as well as an excellent team on board. He added that he was looking forward to launching their new Cleantech Server line.