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Agiliti Closes $40M

Agiliti Inc., a technology services company that delivers internet-based infrastructure and application services, announced Monday (Jan 15) that it has raised an additional $40 million to expand its portfolio of IT infrastructure and e-commerce outsourcing services and add to its customer and partner base nationally.

Agiliti's financing consists of a $35 million Series C equity financing, led with financing managed by American Express Financial Corporation, and a $5 million equipment lease financing provided by Transamerica Business Credit Corporation and GATX Ventures Inc.

New equity investors, in addition to those managed by American Express Financial Corporation, include Dell Ventures and Brightstone Capital. All of the company's previous investors, including Norwest Equity Partners, Delphi Ventures, Affinity Capital Management, The Rahn Group and individual investors, also participated in the Series C equity financing.

Agiliti's business model focuses on the immediate and growing need for outsourced infrastructure and applications via the Internet. By leveraging customers' incumbent IT solution provider relationships, Agiliti's ASP outsourcing model capitalizes on the delivery of services that can be practically utilized today.

"With these proceeds, our expanding strategic relationships, and the continued support of our previous investors, we believe Agiliti is well positioned to accelerate our business opportunity," said Agiliti's founder and CEO, Tom Kieffer. "The way to utilize Information Technology has changed. Agiliti delivers and manages the internet-based infrastructure and application services that enable this new IT business model."

Kieffer credits Agiliti's success to his team's deep industry and management experience, early leadership within the ASP market-space and pragmatic business model, allowing Agiliti to deliver results for customers, equipment and software providers, service providers and IT services firms.

"We are pleased to participate in this round and invest in Agiliti once again," said Art Monaghan of Norwest Equity Partners. "Agiliti continues to generate revenue and customer traction. The company is led by a strong management team and has built a scalable business model. We believe Agiliti is positioned to be a winner in the fast growing IT outsourcing marketplace."

Agiliti delivers internet-based infrastructure and application services. Agiliti's portfolio of services includes managed server and application platforms integrated through a single SLA; productivity and e-commerce applications. Headquartered in Minneapolis, Minn., with offices in Atlanta, Chicago and San Francisco, Agiliti has developed a nationwide network of consulting and integration partners.