March 12, 2008 – (HOSTSEARCH.COM) – On-demand hosting provider Layered Technologies (http//www.layeredtechnologies.com) has received $11 million in private funding, it was reported yesterday. The investment is “led by US private equity firm Enhanced Equity Fund, LP (EEF) and the founding investor, Pangloss International”.
"We are proud to support Layered Tech's continued growth in the fast moving hosting services market," said David Howe, Managing General Partner for Enhanced Equity Fund. "We see great potential for Layered Technologies to play a key role in shaping the future of grid computing and virtualized services within the hosting marketplace."
The funding will enable Layered Technologies to “expand on current successes” and develop new products. The company will also be able to “accelerate sales and marketing efforts within new enterprise markets”.
"The continued growth of our long standing relationship with Pangloss and the expansion of the EEF investment demonstrates the faith our investors place in Layered Technologies' future," said Jack Finlayson, CEO of Layered Technologies. "In the last 90 days, Layered Tech has added significant resources to our sales and marketing, development, and service delivery efforts. We expect the remainder of 2008 to be characterized by aggressive market expansion, new product introductions, and overall growth."
Layered Technologies has a global customer base including large and small customers. Its services include on-demand hosting and utility computing services.
