Faction kicks off the year with $11 million in funding that was raised to support the its continued cloud innovation and company growth. Faction experienced 44% year-over-year growth in 2016 and expects similar results in the year ahead.
“The continued substantial support we’re receiving from reputable and knowledgeable investors is a testament to the groundbreaking technology developments we’re creating in the cloud arena, especially with our unique hybrid cloud and multi-cloud environments,” said Luke Norris, CEO and Founder of Faction. “This new funding round will go toward serving our rapidly growing customer base, bringing new products to the market, expanding our employee base and growing our global footprint. Look out for a steady stream of news from Faction this year.”
Innovation isn’t new to this enterprise-class Infrastructure-as-a-Service (IaaS) cloud provider. The company had a record 2016 marked by innovative cloud solutions such as Internetwork eXchange (FIX), which allows enterprises to easily and cost-effectively connect private cloud and colocation resources into public clouds privately and securely. Faction also announced major partnerships with Level 3 Communications and BluePrint Information Management and Security Services, Inc. (BIMASS), was named a leading service provider on CRN’s Data Center 100 list and launched Faction Forums, a networking event series for cloud enthusiasts.
Longtime investment partners Meritage Funds and Sweetwater Capital, new equity investors Charterhouse Strategic Partners and Rifkin-Pottle Group, and debt financing from Ares Capital Corporation, fueled this round of funding.
David Solomon, Managing Director of Meritage Funds, commented, “It is obvious that Luke Norris along with the entire executive team are fully committed to the highest level of service along with continued expansion of the company’s enterprise-class IaaS cloud and hybrid cloud solutions to meet and exceed current and prospective customers’ needs in our niche of the cloud infrastructure marketplace.”
Faction offers private, public, & hybrid cloud solutions to service providers, partners and customers and has cloud nodes across the United States and in Europe (Seattle, Santa Clara, Denver, Chicago, Atlanta, New Jersey, New York, and the United Kingdom). The company provides both Cisco UCS and Open Compute platforms, is a Platinum-level NetApp Service Provider, and is VMware Hybrid Cloud® and Iaas® Powered.