Layered Technologies Inc., a Plano, Texas-based company that helps clients deploy on-demand hosting and utility computing solutions, has raised $11 million in new VC funding. Enhanced Equity Fund led the round, and was joined by return backer Pangloss International.
Layered Technologies, Inc., a leading worldwide provider of “on demand” IT infrastructure, today announces the completion of an investment round of $11 million, led by US private equity firm Enhanced Equity Fund, LP (EEF) and the founding investor, Pangloss International.
“We are proud to support Layered Tech's continued growth in the fast moving hosting services market,” said David Howe, Managing General Partner for Enhanced Equity Fund. “We see great potential for Layered Technologies to play a key role in shaping the future of grid computing and virtualized services within the hosting marketplace.”
With clients in over 120 countries, Layered Technologies' custom technology solutions allow both large and small customers to rapidly deploy on-demand hosting and utility computing services, providing all the controls of colocation without the start up costs, capital investments, long term contracts and associated challenges. By partnering with Layered Technologies, companies are able to achieve ROI quickly via reduced capital investment, total cost of ownership (TCO), labor reduction, training, and floor space. Layered Technologies can have a company up and running in days versus months.
The new cash investment will provide Layered Technologies with working capital to expand on current successes, develop new products, and accelerate sales and marketing efforts within new enterprise markets.
“The continued growth of our long standing relationship with Pangloss and the expansion of the EEF investment demonstrates the faith our investors place in Layered Technologies' future,” said Jack Finlayson, CEO of Layered Technologies. “In the last 90 days, Layered Tech has added significant resources to our sales and marketing, development, and service delivery efforts. We expect the remainder of 2008 to be characterized by aggressive market expansion, new product introductions, and overall growth.”
For additional information on Layered Technologies, please visit www.layeredtechnologies.com.
About Layered Technologies