CoolIT Systems develops scalable direct liquid cooling (DLC) solutions for desktops and high-performance data centers, including its Rack DLC™ modular technology and patented split flow designs for gaming systems. The company reported a five-year organic CAGR of 51% and finished 2020 with a record $94 million in revenue and record open orders across Data Center and Desktop segments. CoolIT has entered a commercial agreement with nVent to provide integrated cooling solutions spanning outside the rack to the chip. The new funding will be used to accelerate technology development, expand manufacturing and testing infrastructure, and pursue internal development and acquisitions of emerging technologies. CoolIT is expanding its customer-facing capabilities via multiple Innovation Labs: a 15,000 sq. ft. lab at its Calgary headquarters slated to open in May, a lab and office in Taiwan in Q2, and a US lab by year-end. Management also cited ongoing efforts to reduce costs and create faster paths to market to sustain the company's growth rate. CoolIT Systems Inc. develops maintenance-free liquid cooling technology and supplies high-performance cooling systems to system manufacturers, data centre operators and retail customers. The company is based in Calgary, AB, Canada and is led by CEO & CTO Geoff Lyon. It has completed a Series B financing to support growth. The proceeds will be used to increase working capital and expand manufacturing capacity. No operating metrics were disclosed in the article.

Total raised

$6M

Funding rounds

2

Latest round

Series B

Latest activity

Oct 2011