TierPoint, a connected data centre and cloud solutions company, has received $320m in a preferred equity funding round.
The round was led by Argo Infrastructure Partners, Wafra and Macquarie Capital Principal Finance, all of which made their first investments into TierPoint. Other contributions came from previous backers including Cequel III, Ontario Teachers’ Pension Plan, RedBird Capital Partners, The Stephens Group, and Thompson Street Capital Partners.
Capital from the round will be used to repay the company’s second lien credit facility in full, reduce its balance outstanding under its credit facility and foster growth of the platform.
TierPoint is a secure, connected data centre and cloud solution provider which helps the digitalisation of businesses across the US. Its technology also supports disaster recovery, and security and compliance efforts.
The platform mitigates online risks through endpoint encryption, web application firewalls and DDoS mitigation.
TierPoint chairman and CEO Jerry Kent said “Our business has tremendous momentum. In the last two years, we’ve increased sales bookings by 26% and the first quarter of 2020 will be another outstanding growth period. Our team of world-class technology professionals are diligently focused on providing exceptional client service, with a compelling hybrid IT strategy and comprehensive suite of market-leading infrastructure solutions that are in high demand.”
Copyright © 2018 RegTech Analyst
