365 Data Centers Secures $16M in New Financing, $55M Credit Facility365 Data Centers Secures $16M in New Financing, $55M Credit Facility
365 Data Centers has raised $16 million in new funding and gained access to additional $55 million credit facility to support company growth.
September 12, 2014
365 Data Centers this week said it has raised $16 million in new funding and gained access to additional $55 million credit facility to support company growth.
Existing investors Crosslink Capital and Housatonic Partners led the Emeryville, California-based company’s Series B financing round. Fortress Credit Corp., an affiliate of Fortress Investment Group, provided 365 Data Centers with the business loan.
The colocation services provider said the additional funds will be used for ongoing operations, constructing its growth strategy, developing new data center products and growing its cloud and managed services offerings
The financing will also go into expanding the company’s channel programs, 365 Data Centers CEO John Scanlon told Talkin’ Cloud.
“For example, we will be working with Ingram Micro on several co-marketing initiatives in the next quarter, he said. “365 Data Centers is an approved cloud vendor for Ingram Micro’s 40,000 plus resellers.
365 Data Centers announced its partnership with Ingram Micro, a Santa Ana, California-based technology distributor, in May.
Scanlon said the company has the “option and access to capital for organic expansion as well as acquisitions.”
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