Novva Data Centers Raises $355M in Growth Equity Funding

“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 Wes Swenson, Chief Executive Officer (CEO) at Novva.

Novva Data Centers

CIM Group, a real estate and infrastructure owner, operator, lender, and developer, has agreed to invest up to $355 million in Novva Data Centers, bringing the company’s total equity commitment to Novva to $450 million in just over two years. Novva Data Centers is a data center company providing “state-of-the-art” purpose-built data center facilities.

Novva’s intentions to grow across the United States in order to deliver 1,000 MW of planned data center capacity by 2027 at a number of important, yet-to-be-named locations would be aided by the finance. It would also help CIM Group and Novva’s continuous collaboration to develop a world-class solution and provide clients with a unique, personalized “wholocation” experience.

Photo Wes Swenson, CEO at Novva
“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 Wes Swenson, CEO at Novva.

Wholocation is a blend of wholesale scale and retail colocation that allows users to serve clients of any size and scalability requirements, from 1 cabinet to 1,000+ cabinets. Novva’s current data center campuses in Colorado Springs, Colorado, and West Jordan, Utah, are known for this approach.

“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 Wes Swenson, Chief Executive Officer (CEO) at Novva. “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.”

Robotic Monitoring Dogs, Autonomous Aerial Drones

Founded in 2020 with $100 million in backing from CIM Group and Novva’s founders, Novva has made rapid progress toward realizing its vision of purpose-built, sustainable data centers. In August 2021, it announced the purchase of its 40-acre Colorado Springs facility, and in September 2021, it inaugurated its flagship 100-acre West Jordan campus. Novva’s campuses also provide build-to-suit solutions, which may cut clients’ go-live times from 36–48 months to 12 months.

Novva uses renewable energy, high-density capacity, and waterless cooling to provide a low-cost, quick deployment solution. With robotic monitoring dogs, autonomous aerial drones, and augmented reality training, Novva is at the forefront of automation.