PeakColo has raised $7.5 million in growth equity capital from Meritage Funds and Sweetwater Capital, the company said today. The Denver-based provider of colocation and Infrastructure-as-a-Service cloud solution will use the money to fund its expansion into two additional geographic markets over the next year.
PeakColo offers cloud services based on VMware and NetApp technologies fromt hree data centers in the Denver area, one data center in Seattle, and one in the UK.
"“We at PeakColo couldn’t be more excited to have such a strong syndicate of investors join our group," said Luke Norris, CEO and Founder of PeakColo. "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% channel-centric business model by extending new offerings to current and new customers bases across all regions in the Americas."
Jack Tankersley of Meritage Funds will serve as Chairman of the PeakColo Board of Directors. Bill Marraccini of Sweetwater Capital and David Solomon of Meritage will also join the board.
“We are enthusiastic about the addition of PeakColo to the Meritage Growth Equity portfolio,” said Solomon, Managing Director of Meritage Funds. “Luke Norris and his team have created a leading provider of enterprise-class IaaS solutions. 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 Marraccini, Managing Partner of Sweetwater Capital. "We are excited to join forces once again with Meritage and to support Luke Norris and his team."