J.P. Morgan completed an $18 million credit facility for DreamHost, a Managed WordPress services and web hosting provider.
“This financing provides DreamHost with substantial economic opportunities and lower borrowing costs as we aggressively pursue growth by investing back into our people and into our customers’ success,” said Ho Yun, controller at DreamHost. “We are thrilled to join forces with J.P. Morgan and leverage their expertise in both domestic and international operations.”
DreamHost selected J.P. Morgan based on its range of financial solutions and capabilities, which include experience managing merchants with high-volume credit card transactions and its strong expertise in international markets.
“We see J.P. Morgan as a true strategic collaborator for facilitating operational improvements for our many customers worldwide,” Yun added.
“As a pioneer in the web hosting space with strong operational cash flow, sizable customer base, and growing international presence, DreamHost is a great client for J.P. Morgan’s technology portfolio,” said Raj Morey, executive director with J.P. Morgan’s Middle Market Banking Technology Practice. “We’re proud to have been selected by DreamHost for the next step in their journey.”
Flexibility in both the repayment schedule and the covenant structure will provide DreamHost with the ability to grow and reinvest in core aspects of its business as it continues to deliver managed WordPress experience to its customers worldwide.
