PeakColo Raises $7.5 Million in Growth Equity Capital from Meritage Funds and Sweetwater Capital
Investment Supports Growth to Meet Current Customer Demand and Market Expansion
DENVER – September 10, 2012 – PeakColo, a leading provider of enterprise-class Infrastructure-as-a-Service solutions, announced today that it has raised $7.5 million in growth equity capital from Meritage Funds and Sweetwater Capital. This investment will fund growth to meet customer demand in the Company’s current markets and expansion into two additional markets over the next twelve months.
PeakColo, headquartered in Denver, CO, offers its WhiteCloud Services® and technology solutions from multiple data centers in North America and the UK. Its WhiteCloud Services are built upon VMware and NetApp foundational technologies. As a testament to its design, development, support and validated world-wide usage of its WhiteCloud Services, PeakColo’s offerings have achieved the designation of VMware vCloud Powered®.
Luke Norris, CEO and Founder of PeakColo, said “We at PeakColo couldn’t be more excited to have such a strong syndicate of investors join our group. 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.“
“We are enthusiastic about the addition of PeakColo to the Meritage Growth Equity portfolio,” said David Solomon, Managing Director of Meritage Funds. “Luke Norris and his team have created a leading provider of enterprise-class IaaS solutions. My colleague, Jack Tankersley, will serve as Chairman of the PeakColo Board of Directors. Bill Marraccini of Sweetwater Capital and I will also join the Board. 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 Bill Marraccini, Managing Partner of Sweetwater Capital. “We are excited to join forces once again with Meritage and to support Luke Norris and his team.”
PeakColo provides fully redundant, enterprise-class white-label WhiteCloud Services® to its Distribution, Data Center, Service Provider, System Integrator and VAR channel partners. PeakColo is a Premier level VMware Service Provider Partner and one of the first to deliver VMware’s vCloud Director enabled solutions. PeakColo is a NetApp Gold Level Service Provider. It has operations in three data centers in the Denver, Colorado area, one data center in Seattle, WA and one in the U.K. For more information, visit the PeakColo website at http://www.peakcolo.com.
WhiteCloud Services®, BlueCloud Services®, RedCloud Services® and Think Outside the Rack® are registered Trademarks of PeakColo.
About Meritage Funds
Founded in 1998, Meritage is a Denver-based manager of private investment funds. The Meritage team is a unique blend of investment and operating talent. Meritage contributes both capital and expertise to every investment, working as a partner with entrepreneurs to accelerate the growth of their businesses. In total, Meritage manages three investment funds representing more than $600 million of committed capital. We are currently investing Meritage Fund III and are actively seeking Growth Equity investment opportunities. For more information, visit www.meritagefunds.com.
About Sweetwater Capital
Founded in 2005, Sweetwater Capital is a family office private equity fund led by William J. Marraccini. Based in Red Bank, NJ, Sweetwater invests primarily in communications infrastructure service businesses, taking advantage of Mr. Marraccini’s distinguished track record as an entrepreneur and investor in many areas of wireless communications. Sweetwater backs talented and experienced management teams and prefers to be involved at an early stage in forming a platform to pursue a business plan.
# # #