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Press Release -- May 10th, 2013
Source: Peak

PeakColo Raises $1.5M in Follow-On Funding [Built in Denver]

Posted by Amina Elahi | 5/9/2013 | Built in Denver Blog | |

This week, infrastructure-as-a-service company PeakColo raised $1.5 million in follow-on funding from Meritage Funds and Sweetwater Capital. Building on an existing investment from last fall, this round brings total funding from these investors to $9 million. According to founder and CEO Luke Norris, the funds will be used for growth into new markets.

PeakColo is an enterprise-level cloud provider, giving partners an easy way to use cloud-based solutions without building their own infrastructure. Norris says PeakColo’s channel partners benefit because they can resell cloud-enabled services, take advantage of PeakColo’s sales and marketing tools and scale at their own pace without spending capital.

For Norris, partnering with Meritage and Sweetwater was a natural fit.

“Both Meritage and Sweetwater invest exclusively in technology-based businesses that leverage recurring revenue business models. Meritage portfolio companies consist of Growth Equity opportunities generating positive EBITDA,” Norris says. “Based in Colorado with longtime relationships, [we] found Meritage to be a great match that has brought significant seasoned expertise to the Board of Directors.”

That Colorado connection is important, since Norris himself is a Denver resident. “Starting PeakColo, I found that my own state, Colorado, provided not only the quality of life and cost of living I required of a city, but it also offers a significant skilled labor resource pool necessary to be successful in technology,” he says.

Visit PeakColo’s website, check out their BID profile and follow them on Twitter at @PeakColo.

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