Hostway Raises $110 Million On Debt and Equity
Hostway is a server management company that has just raised $110 million in debt and equity financing from several investors. Hostway is based in Chicago, Illinois and they plan to use the money for growth purposes. The investment was provided by Veronis Suhler Stevenson, Fortress Capital, Regiment Capital, and Phoenix Life. Hostway has about 600,000 customers.
“With a sound infrastructure in place and forecasted growth far exceeding projected GDP growth annually in the managed hosting, collocation and cloud computing segments over the next three years, Hostway is well-positioned to capture further market share,” stated Veronis partner George Cole. [Red Herring]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry