Layered Technologies Secures $38 Million Facility From Fortress
Layered Technologies, Inc., a global provider of compliant hosting, managed dedicated hosting and cloud services for mission-critical e-business applications, has secured a $38 million credit facility to fund Layered Tech’s continued investment in enhancing and expanding its compliant hosting and cloud services. Fortress Investment Group LLC provided the credit facility.
“Layered Tech has experienced very healthy customer growth with our market-leading compliant hosting and cloud services, both in terms of new customers and expanding business with existing customers, so the new financing will help us support continued high growth and expansion of our capabilities,” said Layered Tech chairman and CEO Jack Finlayson.
Layered Tech provides compliant hosting services that adhere to financial payment card industry (PCI), Health Insurance Portability and Accountability Act (HIPAA), and Health Information Technology for Economic and Clinical Health (HITECH) Act requirements. In addition, Layered Tech provides conventional enterprise-class hosting and cloud services and has strong market penetration in the Integrated Software Vendors (ISVs) and SaaS verticals. The company’s secure hosting and market-leading cloud and virtualization services, along with its comprehensive managed services capabilities, provide a trusted foundation for customers to build their e-business applications.
“We are excited that Layered Tech has expanded its capital base through this new credit facility. The company has significantly increased its capacity for growth through continued investment in their compliant hosting market-leadership position,” said Ben Bisconti, managing director of Accel-KKR. “Layered Tech has done an outstanding job delivering critical hosting and cloud services to its customers, and we look forward to their continued success.”