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New capital to fund the company’s expansion
GREENVILLE, SC – August 01, 2016 — /BackupReview.info/ — Green Cloud Technologies, a channel only Cloud technology solutions provider, has announced the closing of $7.5 million of new financing. The package consists of a $5 million senior line of credit with Bridge Bank and $2.5 million of additional equity and sub debt provided primarily by its existing investor base. The new capital will fund the company’s expansion of its national channel partner program and acquisition capital as Green Cloud searches for tuck-in cloud or data center asset acquisitions.
According to Shay Houser, CEO of Green Cloud, “Coming off a 3-year growth rate through 2015 of 4,000% and anticipating 65% growth during 2016, the additional capital helps fund our organic growth and acquisition plans.”
“We are pleased to announce our relationship with Green Cloud and our support of their continued growth” said Blake Reid, vice president and market manager Bridge Bank. “We are excited about the momentum that the company’s market strategy has demonstrated and we look forward to supporting Green Cloud’s future growth plans.”
Recognized as SC’s fastest-growing company, Green Cloud Technologies provides custom cloud solutions to an exclusive network of reseller partners. By relying on channel-only distribution, Green Cloud can focus on partner enablement without competing for end-user business. The company’s expansive suite of Cisco Powered, cloud-based products, services, and support are scalable to applications of any size—from SMBs to enterprise-class organizations.
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Source: Green Cloud Technologies, LLC
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