Peerless Network Receives $15M Debt Financing from Square 1 Bank

Peerless Network Inc., a Chicago, IL-based provider of carrier and enterprise interconnection services, has received a $15m debt financing from Square 1 Bank.

The company intends to use the proceeds to expand its network growth efforts, to provide additional data center capacity and to enter new markets.

Founded in 2008 and led by John Barnicle, President and CEO, and Doug Lee, Chief Financial Officer, Peerless Network has built a large interconnection network, enabling wireless carriers, local exchange carriers, cable companies, enhanced service providers and enterprises to connect with each other regardless of how (SIP or TDM), where (centralized or decentralized) and who they need to interconnect.
The company currently operates network points of presence (POPs) in 49 U.S. markets.

Square 1 Bank is a full service commercial bank dedicated exclusively to serving the venture capital community and entrepreneurs in all stages of growth and expansion.



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