Daily News: May 20, 2014

SVB Provides $14.8MM in Venture Debt to SingleHop

SingleHop announced that it has secured $14.8 million in venture debt financing from Silicon Valley Bank with participation by Farnam Street Financial. This is in addition to the company’s 2012 series A of $27.5 million, a round lead by Battery Ventures.

With this new funding, SingleHop will have raised more than $42 million in total equity and debt capital, providing the company with the financial flexibility to continue its rapid growth, further build out its technology products and services, and make strategic investments.

Chicago, IL-based SingleHop is an IaaS and cloud-enabled, managed hosting company for SMBs, enterprises, and service providers worldwide.