C7 Data Centers, Inc. (C7), a national provider of colocation, disaster recovery, and virtualization solutions, announced today that it has raised an additional $9MM in growth capital. This round was led by Canopy Ventures and debt financing from Zions First National Bank.
C7 plans to use this additional capital to further fuel organic growth, fund additional phases for its data centers, and allow for new expansion facilities. With four data centers in Utah, C7 presents the most comprehensive data center offering for local, national, and multi-national companies.
"We are extremely pleased to announce the successful culmination of the debt financing and have the opportunity to partner with C7 Data Centers in this transaction. We consider C7 to be a uniquely positioned company with excellent opportunities for growth," said Thomas Etzel, Sr. Vice-President, at Zions Bank.
"Demand for top-tier data center colocation space in Utah is growing. C7's facilities and services have proven to be attractive to companies large and small, both national and multi-national," stated Brandon Tidwell, Managing Director, of Canopy Ventures. "C7 has implemented a well-designed business strategy to respond quickly to customer needs and provide data center services and support at a reasonable price."
"For the past three years we have carefully built our management and support teams to provide the world-class, fully-redundant services our customers rely on," explained Nathan Hatch, CEO, C7 Data Centers, Inc. "This growth capital will provide additional high-quality inventory for our current and prospective customers' business operations."