Faction, a Denver, CO-based enterprise-class Infrastructure-as-a-Service (IaaS) cloud provider, raised $11m in success-based capital.
Backers included existing investors Meritage Funds and Sweetwater Capital, new equity investors Charterhouse Strategic Partners and Rifkin-Pottle Group, while Ares Capital Corporation provided debt financing.
The company intends to use the funds to bring new products to the market, expand its employee base and grow its global presence.
Led by Luke Norris, CEO and Founder, Faction is an enterprise-class IaaS cloud provider offering private, public, & hybrid cloud solutions. With 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 offers both Cisco UCS and Open Compute platforms.
In 2016, Faction released its Internetwork eXchange (FIX) solution, which allows enterprises to connect private cloud and colocation resources into public clouds privately and securely. The company also announced major partnerships with Level 3 Communications, and BluePrint Information Management and Security Services, Inc. (BIMASS), a cyber security company now reselling Faction Cloud services.