Peak® has raised $16 million in capital since December 2013, funding will be used to address cloud demand and fuel innovation. The $16 million represents a combination of both debt and equity. Peak’s most recent $9 million round comes from current investing partners Meritage Funds and Sweetwater Capital, as well as new investor Ares Capital.
“Peak dominates a unique niche in the cloud infrastructure industry; they are the only provider that distributes cloud services exclusively through channel partners. Because of their unwavering focus, Peak has solidified a strong customer base and a high-performing solution for the global market,” said David Solomon, Managing Director of Meritage Funds. “We are delighted that our capital will enable Peak to continue to create success-based investments in response to customer demand.”
$7 million of the $16 million was received over the last several months and was used to expand Peak’s cloud node capacities in existing locations. That $7 million of funding was obtained from Meritage Funds and Sweetwater Capital. Peak’s November funding helped support key partnerships including a recently announced agreement with Telx. The funding also backs Peak’s continued demand for cloud computing services due to its unique 100% channel-centric sales and service model.
“With the additional funding, Peak is able to expand into additional markets, serve a larger client base, and expand product development,” comments Luke Norris, CEO and Founder of Peak. “It’s reaffirming to have the backing of investors with the prestige, resources and knowledge of Meritage Funds, Sweetwater Capital, and Ares Capital. This gives Peak a substantial advantage and allows us to support our mission to power clouds globally.”