Web Host Hosting.com Releases Raises $2 Million to Expand Colocation Services and Offerings
November 11, 2008 – (HOSTSEARCH.COM) – Web host Hosting.com (http://www.hosting.com) has announced it has completed a $2 million round of funding with CapitalSouth Partners, LLC. Hosting.com will utilize the CapitalSouth funding to continue to expand its Enterprise Colocation business, which enables enterprises to deploy custom-built micro-data centers of 2,000 – 20,000 square feet inside one of Hosting.com’s five SAS 70 certified data centers.
CapitalSouth, headquartered in Charlotte, NC also operates an office in Louisville, KY, site of Hosting.com’s corporate offices. After years of watching the rapid growth and expansion of Hosting.com, CapitalSouth executives partnered with Hosting.com to increase the number of data centers Hosting.com operates.
“Hosting.com’s growth in the colocation space over the last two years has been exceptional. CapitalSouth invests significantly in companies that have strong competitive advantages and proven management teams, and Hosting.com fits both criteria,” stated Kenneth S. Berryman, Director of CapitalSouth – Louisville. “We are excited to be a part of their growth!”
The city of Louisville has worked closely with CapitalSouth over the past two years to encourage local mezzanine investments in Louisville-based companies. Louisville, KY Mayor Jerry Abramson stated, “We are very pleased that our 2-year effort to attract a top mezzanine debt firm to Louisville played a role in making this exciting expansion by Hosting.com possible.”
Since 2006, Hosting.com’s expansion has included data centers in Irvine, CA, San Francisco, CA, and Louisville, KY. During that time, Hosting.com has continued to operate its other data centers in Boston, MA and Louisville, KY.
“With today’s economy, businesses continue to outsource their IT infrastructure to save money and focus on their core competencies. Hosting.com’s colocation, managed hosting, and cloud computing solutions have never been in higher demand,” said Darren G. King, CEO of Hosting.com. “We are thrilled to have a great capital partner like CapitalSouth to fund up to $15 Million of our data center expansion initiatives into key markets such as Silicon Valley, Northern Virginia, and Boston.”
Hosting.com cites the recent downturn in the economy as a reason to continue expansion and growth into new markets at this time. “We are receiving more calls from enterprises looking to save capital and improve their operational efficiencies by avoiding data center builds and turning to experienced providers such as Hosting.com for increased services,” commented Jonathan Erwin, VP of Sales and Marketing at Hosting.com.
Berryman added, “Hosting.com is growing tremendously on an annual basis, and the economic downturn should fuel their continued success. Even in today’s tough credit market, successful private equity investors are eager to put their money to work in great companies like Hosting.com.”
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