The Company, founded in 2005 is based in Auburn, CA and is a highly rated market leader of on-premise disaster proof data storage products with proprietary technology. IoSafe products combine with any storage technology to provide clients with additional data protection, security and disaster recovery and protect over 180 petabytes of data and 50,000 customers globally from fire, water, chemicals and theft, including home, business and government users. The Company required sale to a strategic investor to create the synergy needed to take it to the next level.
BizCap was brought in by the majority owner (Sponsor) to run a sale process focused on strategic buyers who would value Iosafe based on synergies created through the acquisition.
- IoSafe had recently pivoted its sales strategy from focusing on DtC sales (online) to commercial (B2B) sales channels and strategies
- After discovering a few niche markets and growing markets to sell in to (i.e. medical, franchise businesses) where data is critical to be stored on site, the Company needed additional capital to get to the next level of growth
- Working capital strained due to revamping marketing, website, and expansion of sales team and infrastructure preparing for growth and the existing ownership team had limited capital resources to contribute
- BizCap was able to find a strategic buyer that sold a complementary suite of data & security hardware products which could be easily cross-sold with their existing sales team and Iosafe’s suite of products