SAN FRANCISCO, Oct 10 (Reuters) - Data-center company IO hasraised $90 million from venture-capital backers, the companysaid on Wednesday, illustrating the growing profile ofenterprise-oriented investments compared to consumer companiesin Silicon Valley.
The investment, led by the Pritzker Group's New WorldVentures, will allow IO to expand to Singapore and London, IOChief Financial officer Jon Mauck said by telephone.
The company's business is about half hosting infrastructureand half product sales, with a large portion of revenue comingfrom recurring subscriptions, Mauck said. Much of IO's business,such as building data centers, is currently done in-house by thecompanies that become its customers.
"For a company of our size and scale, there's a naturalroadmap to an IPO," or initial public offering, Mauck said."We're at a scale now where we could easily be in the publicmarkets in the course of the next year." He declined to providerevenue figures.
Until social-media company Facebook's troubled IPOearlier this year, consumer-Internet companies rode high inSilicon Valley.
But lately, more buzz has surrounded companies that cater tobusinesses rather than consumers.
Data-mining company Splunk , which priced at $17 atthe time of its April IPO, is trading north of $30. Softwarecompany Workday, expected to start trading on Friday, has raisedthe price range for its shares to $21-$24 each, which couldraise its valuation to more than $4 billion.
IO's current investors include JP Morgan Asset Managementand Sterling Partners. The company has raised $275 million inequity financing and has access to $200 million in debtfinancing.
(Reporting By Sarah McBride; Editing by Tim Dobbyn)
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Keywords: VENTURE NEWWORLD/