Codero Hosting announced today that it has secured $8 million in new financing.  The financing comes from Silicon Valley Bank and Farnam Street Financial.  This is notable as it is a blue chip finance arrangement and mainstream financing, not an equity deal.  It means that the company is really hitting its growth in a competitive cloud market with unique leading products.  Codero plans to use the capital financing to deploy new data centers across the country and in Europe.  The company is also further expanding its hosting portfolio, reaching out to more customers than ever before through the addition of data center locations and through the success of products like the industry’s only true on-demand hybrid cloud hosting service.

“We have outpaced our industry’s growth, expanding faster than other hosting and cloud providers due to our commitment to providing customers with unparalleled performance, expertise, support and value,” said Emil Sayegh, president and CEO of Codero Hosting. “The support of SVB and Farnam Street Financial helps us accelerate our growth and capitalize on our market success.”

 

“Helping innovators like Codero succeed is what we aim to do every day,” said Travis Wood, managing director for Silicon Valley Bank in Austin. “With the flexibility provided by this financing, the Codero team is on a path to meet its ambitious global expansion goals.”

“Fast-growing companies like Codero need long-term relationships that deliver creative solutions,” said Dale Olsen, SVP of sales, Farnam Street Financial. “We feel that Farnam is uniquely positioned to help Codero maintain its high level of service while accelerating its revenue growth.”

Codero offers a range of cloud and managed services that has seen enormous success, due to an exceptional blend of leading technology, cost effectiveness and support.  The On-Demand Hybrid Cloud service hit the market in October 2013 and is the only service of its kind.  By combining the features of cloud computing with the control and power of dedicated systems – all at the touch of a button, the product can adapt to any needs that are thrown at it.  In big data scenarios, high-performance database environments, VOIP and more, the rapid changes that are possible with this product along with its scalability read like a fulfilled wishlist of enterprise features.