Evocative seals $30m investment from private equity for further expansion
The company has already expanded extensively from its original Bay Area and it will use the extra funds to enter a number of new markets.
Evocative Data Centers has completed a $30m debt and preferred equity investment led by Crestline Investors. Financing proceeds will be used to support the company’s acquisitive growth strategy, it said.
Evocative, headquartered in Emeryville, CA, was founded in 2017 with a $2.5m seed investment and has grown from two data centres in the San Francisco Bay Area to seven facilities across the markets in Los Angeles, San Francisco, San Jose, Phoenix, Dallas and Virginia.
The company’s carrier neutral data centres offer full stack IT expertise including connectivity; public, private and managed cloud; bare metal hosting; managed services; IT support; backup and recovery and security services. The firm says it has over 700 enterprise and technology company customers.
Arman Khalili, CEO of Evocative, said: “Crestline Investors have extensive experience in the data centre and managed services industries. Their investment enables us to accelerate our growth plans and focus on delivering best-in-class infrastructure and services. We look forward to deploying the capital into future acquisitions and growth initiatives.”
“Under the leadership of industry veteran Arman Khalili, Evocative is well-positioned for continued success as it expands its infrastructure and services capabilities,” said Will Palmer, managing director at Crestline Investors, who will be joining the company’s board of directors.
“We have been impressed with Evocative’s capabilities and look forward to continued growth at the company.”
Evocative operates facilities aggregating 8MW of power across 100,000 square feet.