Thursday March 15, 2018 0 comments
DENVER -- Faction, the Multi-Cloud Platform as a Service company, today announced it closed an $18 million Series B financing to expand its multi-cloud products and services and accelerate growth via sales, marketing and international expansion.
New investor River Cities Capital Funds led the round, which includes investment by Dell Technologies Capital and existing investors Sweetwater Capital, Meritage Funds and Charterhouse Strategic Partners.
This growth capital financing positions Faction to further enhance its industry leading position as a premier provider of multi-cloud storage by extending its cloud connected storage to the VMware Cloud on AWS platform, the company said.
Additionally, Faction said it will be expanding its managed services internationally to support the global rollout of VMware Cloud on AWS.
With this funding, Faction said it will expand its global operations in 2018 and 2019 with plans to hire across all functional areas of the business with an emphasis on software development, engineering, and managed and professional services.
“We are thrilled to partner with Faction and believe there is a tremendous opportunity to accelerate the company’s growth through product and international expansion,” said Rob Heimann, River Cities Capital Funds managing director.
“We’re impressed with the depth and breadth of the company’s solutions for enabling managed services partners and are particularly encouraged by their innovative offerings for cloud connected storage, including VMware Cloud on AWS.”
“Dell Technologies Capital is excited to be working with Faction to deliver customer configurable and adaptable multi-cloud solutions,” said Daniel Docter, Dell Technologies Capital managing director.
“Our investment, domain expertise and industry relationships will help Faction continue to grow its IaaS and Enterprise Storage as a Service offerings as it expands to support VMware Cloud on AWS solutions.”
“This growth capital is validation that Faction is providing and developing groundbreaking technology in the cloud industry,” said Luke Norris, Faction’s founder and CEO.
“We are ecstatic to partner with great investors who share our vision of a multi-cloud future and are uniquely positioned to help us realize that future today.”