SOURCE: Peak

Peak

November 12, 2014 08:01 ET

Cloud Provider Peak Secures $16 Million in Capital

Funding Will Be Used to Address Cloud Demand and Fuel Innovation

DENVER, CO--(Marketwired - Nov 12, 2014) - Colorado-based Peak®, an enterprise-class IaaS Cloud provider for channel partners, today announces it has raised $16 million in capital since December 2013. Peak's most recent $9 million round comes from current investing partners Meritage Funds and Sweetwater Capital, as well as new investor Ares Capital. Funding will be used to support accelerating demand for its cloud computing platform and to fuel ongoing innovation. The $16 million represents a combination of both debt and equity.

"Peak dominates a unique niche in the cloud infrastructure industry; they are the only provider that distributes cloud services exclusively through channel partners. Because of their unwavering focus, Peak has solidified a strong customer base and a high-performing solution for the global market," said David Solomon, Managing Director of Meritage Funds. "We are delighted that our capital will enable Peak to continue to create success-based investments in response to customer demand."

$7 million of the $16 million was received over the last year and was used to support Peak's expansion of its cloud node capacities in existing locations. That $7 million of funding was acquired from Meritage Funds and Sweetwater Capital. Peak's November funding helps support key partnerships including a recently announced agreement with Telx, provider of global interconnectivity and datacenter solutions. The funding also supports Peak's continued demand for cloud computing services due to its unique 100% channel-centric sales and service model, supporting channel partners such as Westcon, Comstor, and Avnet.

"With the additional funding, Peak is able to expand into additional markets, serve a larger client base, and expand product development," comments Luke Norris, CEO and Founder of Peak. "It's reaffirming to have the backing of investors with the prestige, resources and knowledge of Meritage Funds, Sweetwater Capital, and Ares Capital. This gives Peak a substantial advantage and allows us to support our mission to power clouds globally."

Peak offers cloud computing to a large ecosystem of value-added resellers (VARS), distributors, agents and service providers who white-label or re-sell Peak's cloud as their own solution. Businesses on a cloud powered by Peak receive deeper access and control of their environments, a choice of hypervisors, 100% SLA guarantees, and simplified 'plug-in' access to Peak cloud locations via Layer 2 network protocols, versus Layer 3. Peak has cloud nodes located in eight geographies across the United States and Europe including Silicon Valley, Seattle, Denver, Chicago, New Jersey, New York, Atlanta, and the United Kingdom. For more information about Peak's infrastructure-as-a-service cloud solutions engineered for the channel, please contact sales@poweredbypeak.com or visit http://www.poweredbypeak.com.

About PEAK
Peak® is an enterprise-class Infrastructure-as-a-Service (IaaS) cloud service provider to channel partners. White-labeling Peak's cloud services as their own, resellers and agents rapidly enter the cloud marketplace under their own brand without capital expenditure, enjoying a faster route to profitability. Peak operates Type II SSAE 16 and SOC 1 & 2 compliant cloud nodes in eight geographies across the United States and in Europe (Silicon Valley, Seattle, Denver, Chicago, New Jersey, New York, Atlanta, and the United Kingdom). Its VMware vCloud® Powered cloud environment contains tens of thousands of virtual machines and multiple petabytes of storage for public, private, hybrid and disaster recovery solutions. Peak offers both Cisco UCS and Open Compute platforms, and is a Platinum-level NetApp Service Provider. For more information, visit www.poweredbypeak.com, call (855) 532-4734 or follow us on Twitter or LinkedIn.

Contact Information

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