Virtacore Expands Cloud Business With Silicon Valley Bank Financing
The infrastructure as a service (IaaS) provider is expanding its financing relationship with Silicon Valley Bank to support cloud services operations and global growth.
Virtacore Systems has announced it has secured additional multi-million dollar financing from industry leader Silicon Valley Bank, the commercial banking operation of SVB Financial Group and financial partner to innovative companies and their investors worldwide. The newly secured funds will be used for working capital to support Virtacore’s cloud services operations and global growth of the company’s infrastructure as a service offerings.
Commenting on the transaction, Virtacore CFO Robert Kalchthaler said, “We are excited to announce our continued partnership with Silicon Valley Bank. Virtacore’s loan facility provides for significant growth capital going forward. Working with Silicon Valley Bank, a leader in financing technology companies, we will continue Virtacore’s services expansion both domestically and internationally.”