Managed hosting provider Layered Technologies, Inc. has secured a $38 million credit facility to fund continued investment in its hosting and cloud services, the company said today. The $38 million credit facility was funded by Fortress Investment Group LLC.
"Layered Tech has experienced very healthy customer growth with our market-leading compliant hosting and cloud services, both in terms of new customers and expanding business with existing customers, so the new financing will help us support continued high growth and expansion of our capabilities," said Layered Tech Chairman and CEO Jack Finlayson.
Success in Compliant Hosting
One focus of the new financing will be the growth of Layered Tech's compliant hosting business, which provides services for companies that must adhere to financial payment card industry (PCI), Health Insurance Portability and Accountability Act (HIPAA), and Health Information Technology for Economic and Clinical Health (HITECH) Act requirements.
The company also provides conventional enterprise-class hosting and cloud services and has strong market penetration in the Integrated Software Vendors (ISVs) and SaaS verticals.
“We are excited that Layered Tech has expanded its capital base through this new credit facility," said Ben Bisconti, Managing Director of Accel-KKR. "The company has significantly increased its capacity for growth through continued investment in their compliant hosting market-leadership position. Layered Tech has done an outstanding job delivering critical hosting and cloud services to its customers, and we look forward to their continued success.”