Chrysalis Ventures, a source of equity capital for growth companies in the Southeast and Midwest, led the financing. The $4 million Series B preferred equity investment.
Co-investors in the financing include existing investors Votum Capital LLC and Clayton Associates.
Founded in 1987 as Resource Concepts Inc., Intechra, which is based in Carrollton, Texas, provides IT asset disposition services, including investment recovery, data destruction and recycling with liability protection. The company refurbishes and remarkets IT equipment using multiple domestic and international distribution channels, including its Outlet Computer retail store (www.outletcomputer.com), broker and dealer channels.
“We are pleased to partner with Chrysalis Ventures, Clayton Associates and Votum Capital LLC for this important round of growth financing,” Chip Slack, Intechra Holding Corp. chairman and CEO, says. “In addition to capital, these groups bring valuable strategic insight as Intechra seeks to be the dominant player in this market. This round of funding allows us to continue to grow organically while exploring potential acquisition targets,” he adds.
"Intechra serves a market that is large and growing, yet highly fragmented," said David A. Jones, Jr., chairman and managing director of Chrysalis Ventures. "With its proven service offering and experienced management team, we believe it is well-positioned to become a leader in this important, emerging industry. We have been working closely with the company for over a year, monitoring their progress as they evaluated their capital needs, and look forward to working together."