PeakColo has announced that it has raised $7.5 million in growth equity capital from Meritage Funds and Sweetwater Capital. This investment will fund growth to meet customer demand in the company's current markets and expansion into two additional markets over the next twelve months.
PeakColo, headquartered in Denver, offers its WhiteCloud Services and technology solutions from multiple data centers in North America and the UK. Its WhiteCloud Services are built upon VMware and NetApp foundational technologies. As a testament to its design, development, support, and validated world-wide usage of its WhiteCloud Services, PeakColo's offerings have achieved the designation of VMware vCloud Powered.
Luke Norris, CEO and founder of PeakColo, said, "We at PeakColo couldn't be more excited to have such a strong syndicate of investors join our group. With their strategic guidance aiding our established leadership team, we are truly poised to take our proven, enterprise-class Infrastructure-as-a-Service solutions to new markets. This infusion of growth equity capital allows us to further service PeakColo's 100 percent channel-centric business model by extending new offerings to current and new customers bases across all regions in the Americas."
"We are enthusiastic about the addition of PeakColo to the Meritage Growth Equity portfolio," said David Solomon, managing director of Meritage Funds. "Luke Norris and his team have created a leading provider of enterprise-class IaaS solutions. My colleague, Jack Tankersley, will serve as chairman of the PeakColo Board of Directors. Bill Marraccini of Sweetwater Capital and I will also join the Board. We look forward to working alongside the PeakColo team to continue to accelerate the Company's growth."
"PeakColo is an outstanding young company well-positioned to participate in the explosive growth of cloud computing," said Bill Marraccini, managing partner of Sweetwater Capital. "We are excited to join forces once again with Meritage and to support Luke Norris and his team."