New Orleans-Based Servato Announces Latest Funding Round

New Orleans-based Servato Corp. has announced a recent funding round led by ATCO Investment Company (ATCO) alongside the Louisiana Fund, Fibrebond Corporation, other North Louisiana family offices and the NOLA Angel Network.

ServatoServato develops Active Battery Management System (ABMS) which manages, monitors, and charges lead acid batteries used for backup or reserve power in industrial settings. The “Industrial Internet of Things” company’s mission is to make sure the Internet is always on.

The funding will be used for sales growth and general working capital needs, according to the company.

Servato is growing its board of directors, adding 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.”