This article originally appeared on TheWHIR.
DreamHost announced last week that it has closed $30 million in financing from Goldman Sachs Bank, advised by DH Capital.
The financing, which closed on Nov. 27, will go towards buying back the stake of a founder, paying down equipment financing, and cash for growth and working capital.
The new financing is structured as a $25 million term loan and $5 million revolver.
“When we made the decision to raise capital in a globally competitive market, we knew that having an advisory firm with deep industry expertise, strong financial acumen, and high integrity and trust with investors, was an essential element for success,” DreamHost CEO Simon Anderson said. “We chose DH Capital for all these reasons, and the experience and sound advice they brought to our first major financing proves that we made a very wise choice. We’re excited that DH Capital helped us find Goldman Sachs, and look forward to accelerating growth of the DreamHost platform.”
This news comes shortly after DreamHost updated its DreamCompute cloud service with OpenStack Havana support. DreamHost also recently updated the pricing and available features on its cloud storage packages.
“It has been our pleasure to assist Simon and the DreamHost team with this financing from Goldman Sachs. DreamHost’s Web hosting and cloud services offering continues to lead the industry,” Townsend Devereux, partner of DH Capital said. “The credit facility from Goldman Sachs will allow DreamHost to continue to accelerate customer growth, further build upon its existing, world-class capabilities and rollout new services.”
According to the announcement, DH Capital has advised hosting companies on 51 transactions with a combined value in excess of $7.6 billion.
Original article published at: http://www.thewhir.com/web-hosting-news/dreamhost-closes-30m-financing-goldman-sachs