FOR IMMEDIATE RELEASE: 8/26/15
SERVATO CORP. CLOSES INVESTMENT ROUND TO FUND SALES GROWTH
Family Office Leads Louisiana Syndicate with Strategic, Institutional and Angel Investor Participation
(New Orleans, LA) Servato Corp., an “Industrial Internet of Things” technology and service provider based in New Orleans, announced today a new investment round led by ATCO Investment Company (ATCO). Investors included the Louisiana Fund, Fibrebond Corporation, other North Louisiana family offices and the NOLA Angel Network.
Funding will be used for sales growth and general working capital needs. Joining Servato’s board of directors will be Ron Ondechek Jr. (representing ATCO) and Richard Babb (representing Louisiana Fund). Other Servato board members will include: Chris Mangum (CEO, Servato), David Barksdale (CEO, Spread Networks) and Jim Lyons (Chief Technologist, Capricorn Investment Group).
“We are thrilled about the new partnerships with ATCO, the Louisiana Fund and Fibrebond, as well as the vote of confidence from previous and new investors,” said Mangum. “These partners provide not just capital, but strategic advantages and insight as we seek to accelerate growth in our business.” The financing round is one of the largest syndicated venture rounds in recent years involving almost exclusively Louisiana-based investors.
Servato improves Internet reliability by managing backup power more effectively. The company is the first to utilize a data driven approach to improving battery life and management practices for backup power systems in critical infrastructure. Servato’s solutions allow telecom carriers and infrastructure operators to reduce CapEx and OpEx by extending battery life, reducing maintenance costs and streamlining operations.
Utilizing highly accurate data, proprietary algorithms, adaptive charging and cloud-based visualization software, Servato provides unprecedented insight and control over distributed DC power assets in industrial settings. To learn more, please visit: www.servatocorp.com.