(The Hosting News) – A significant investment to the tune of $27.5 million was recently put toward the operations of cloud solution and automation provider SingleHop. Announced on Wednesday in a press release, it’s backed by venture capital firm Battery Ventures.
As a technology investment leader, past funding by Battery Ventures has included companies such as marketing tech provider Neolane, RPM company Marketo, users analytics specialist Kontagent and deals site Groupon.
SingleHop provides a range of hosting services in the areas of cloud, dedicated, security, monitoring and more. Discussing the matter in a press release, SingHop CEO Zak Boca expressed enthusiasm, saying the move gives his company “great operational advantages.”
Along with such a large investment is the confidence that what you’re putting money towards will succeed, a notion Battery Venture had no problem with. “SingleHop is well positioned given the rise in cloud computing and demand for outsourced IT services. With its automated technology platform, the company has carved out a unique position in the market,” commented Battery Ventures General Partner Dave Tabors.
The move is also set to reshape SingleHop’s leadership. Two of the investment firm’s key employees will sit upon SingleHop’s board of directors thanks to the deal.
The company’s operations are hosted through data centers in the Chicago, Illinois areas. However, earlier this month, the company made news by announcing its plans to open its first western-based data center in Phoenix, Arizona. This site itself will allow the web host to operate ten thousand servers.