(WEB HOST INDUSTRY REVIEW) — Web host FireHost (www.firehost.com) has closed its first initial infusion of capital totaling $2 million, raised to help the company quickly expand its IT, sales and marketing team and build out it’s infrastructure in order to meet tremendous demand.
FireHost opened the Series A funding round to highly experienced technology entrepreneurs and investors around the Southwest, such as Pat Sullivan of ACT!, SalesLogix, and Flypaper, and Doug Ducey of iMemories and Cold Stone Creamery. FireHost was able to close the round in less than three months.
“The investors who came to the table to participate in the round are incredibly accomplished and seasoned entrepreneurs,” FireHost founder and chief executive officer Chris Drake said in a statement. “Each one has been generous enough to not only invest, but also give us the benefit of their mentorship. In the end, both will pay off for this company. I’m proud to say this was a very easy round to close.”
Since its marketing launch in June 2009, FireHost has been earning revenue at a 40 percent growth rate, quarter over quarter, largely differentiating itself in the managed hosting space based on its a unique and aggressive approach to secure web hosting. It offers clients free web application security scanning, providing small and medium-sized businesses with detailed reporting on website and web application vulnerabilities.
In the coming weeks, FireHost will be launching a “new offering that combines the best of dedicated and cloud hosting into one, totally secure, and very affordable solution for companies of all sizes,” the company stated.
FireHost garnered a lot of attention last summer when reformed hacker Kevin Mitnick came to the company to host his website after it suffered a series of embarrassing, widely publicized hacks. After being dropped by his hosting company and refused by others, FireHost stepped up to the plate, and over eight months, FireHost mitigated nearly 1,500 hack attempts a week on Mitnick’s site and has kept him free from attacks.
Providing companies a premium-level of protection from today’s sophisticated hackers, viruses and intruders, FireHost’s web hosting security has earned it a spot on the list of CODiE Award Finalists for online security. Ray Croghan, one of the lead investors in this financing round, said that secure hosting is in real demand, and there is tremendous market opportunity. “Add in a CEO like Chris Drake, and this company has a very compelling set of assets in which to invest,” Croghan said. “I fully expect to see continued and fast growth from FireHost.”
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