Green House Data Secures $16,000,000 Line Of Credit
National provider of cloud hosting, colocation and managed services continues expansion with support from Capital Partner Post Road Group.
Green House Data received a new $16,000,000 credit facility from Post Road Group, a privately held investment firm based in Stamford, CT.
This capital infusion along with its recent equity raise will accelerate the company’s national growth strategy into new geographic markets and expanded service product portfolio via strategic acquisition.
Today, Green House Data operates in eight geographic markets, with the core market in North America, serving customers across 49 US states, six Canadian provinces, and several states in Mexico. The company also services North American based locations of international organizations. In partnership with Post Road Group, Green House Data is actively seeking acquisition expansion opportunities.
“Historically, our company has self-funded through bootstrapping and individual investors,” said Jason Graf, VP Finance, Green House Data. “However, as Green House Data has grown, we looked for a capital partner with greater resources to ensure we can move quickly in this dynamic market.”
In 2015, Green House Data acquired FiberCloud, an established provider of cloud hosting and colocation in the Pacific Northwest, including a significant footprint in the Westin Building Exchange. On March 31, 2017, Green House Data acquired Cirracore, an Atlanta-based infrastructure provider of enterprise-ready Infrastructure-as-a-Service (IaaS) and hybrid cloud.
“We were excited to work with Green House Data because they have developed an aggressive growth strategy to expand upon their high-growth market position,” said Michael Bogdan, managing partner and head of corporate investing at Post Road Group. “We look forward to seeing how Green House Data is able to increase revenue, improve their bottom line, and ultimately continue to consolidate other brands and locations into their portfolio.”
“MVP is proud to have been part of helping Green House Data complete this important transaction. They are an outstanding company and team, and it will be exciting to see them produce even greater results for their customers and shareholders with a stellar capital partner like Post Road Group,” said Brian Pryor, Managing Director, MVP Capital.
Green House Data’s exclusive transaction advisor was San Francisco-based MVP Capital.
Celebrating their 10-year anniversary in July of 2017, Green House Data has expanded from a single facility in Cheyenne, Wyoming to over 100,000 sq ft of white space and cloud connectivity with access to over 250 carriers, service providers, and content providers spread across west, central, east, and southeast locations.