The funding will be used for cloud innovation and continued company growth.
Faction has announced it has raised $11 million in success-based capital this month. Longtime investment partners Meritage Funds and Sweetwater Capital and new equity investors, Charterhouse Strategic Partners and Rifkin-Pottle Group, as well as debt financing from Ares Capital Corporation, have fueled this most recent round of funding. The $11 million in debt and equity capital will be used for company expansion and to meet Faction’s explosive customer demand. In 2016, Faction experienced 44% year-over-year growth and expects similar results in the year ahead.