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C7 Data Centers (C7), a provider of advanced IT and data center outsourcing services, announced the company has secured $25 million in debt and equity funding. Coming from MCG Capital Corporation and previous investment partner Signal Peak Ventures, the new funding will enable C7 to expand its data center footprint and operations to meet the growth demands of existing and prospective clients.
C7’s burgeoning client base includes a variety of iconic brands from the financial, high-tech, medical and education industries which have embraced C7’s client centric approach while providing a secure, energy efficient and cost effective data center experience. C7’s rapid growth also reflects the attraction of its high density data center designs, which capitalizes on the attractive power rates, fiber and connectivity infrastructure, limited natural disasters and a favorable business environment and accessibility that its Utah locations afford.
“We are excited to have led the debt portion of C7’s new capital funding which has been tailored to allow C7 to continue to keep pace with the robust demand for their data centers and services," stated Bob Marcotte, executive vice president and managing director of MCG Capital Corporation. “The IT experience and unwavering service commitment of the C7 team have established the company as a leader in their ability to deliver on the critical data center production demands of even the most discriminating enterprise customers.”
In addition to focusing on the continued development of its colocation services in all of its data centers, C7 provides customers with proven disaster recovery, data backup and cloud/hybrid cloud solutions.
“We’ve been extremely pleased with C7’s exponential growth and an ability to attract clients across industries,” said Brandon Tidwell, managing director, Signal Peak Ventures. “C7 has maintained customer satisfaction and retention levels that are remarkably high. Because of this, C7 has an immediate and massive opportunity to convincingly sell to new customers and provide additional data center services to existing customers.”
Of the funding, Wes Swenson, C7 Data Centers’ CEO, remarked, “It’s important to work with institutions like MCG and Signal Peak Ventures who possess a deep understanding of the colocation market and evolving market demands during this stage of the company’s growth. Their support and committed funding provide C7 with the capital to continue to meet the dynamic market demand for its colocation services including the construction of additional data centers we have planned locally and regionally.”