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Codero Hosting Raises $8 Million to Expand in US, Europe

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Austin-based Codero Hosting announced this week that it has received $8 million in financing. The financing is provided by Silicon Valley Bank and Farnam Street Financial.

Codero plans to use the funds to deploy data centers in the US and Europe, and to expand its hosting portfolio. Codero currently hosts out of three main data centers in the US, and none in Europe.

“We have outpaced our industry’s growth, expanding faster than other hosting and cloud providers due to our commitment to providing customers with unparalleled performance, expertise, support and value,” Emil Sayegh, president and CEO of Codero said. “The support of SVB and Farnam Street Financial helps us accelerate our growth and capitalize on our market success.”

2013 was a busy year for Codero.  The company adopted Dell PowerEdge servers last year, and also brought a new COO and VP over from Rackspace.

Codero also launched “on-demand” storage and hybrid cloud offerings in 2013, which the company says have been well received and attracted new customers.

Silicon Valley Bank was involved in a financing round for EdgeCast Networks and Intermedia’s acquisition of Telanetix in 2013.

Codero has been using its deep integration and automation with flash storage to offer competitively priced speed and scalability to its business clients. According to Data Center Knowedge, it plans to offer its hybrid hosting platform to customers in the future, and its US data center expansion will include the Dallas Fort Worth area.

About the Author

Chris Burt is a WHIR contributor and writer of both fiction and non-fiction. He can be found on Twitter @afakechrisburt.

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