x
Breaking News
More () »

Denver cloud computing company raises $18 million for growth

The large majority of the 50-employee company's new hires will be at Faction's Denver headquarters.
Thinkstock by Getty

Faction, a Denver company that sells cloud computing infrastructure services, raised $18 million in equity funding from investors and plans to add dozens of jobs and expand internationally.

New investor River Cities Capital, based in Cincinnati, led Faction’s Series B round, which closed last week and was announced Thursday. Also new in the round was Dell Technologies Capital, the investment arm of Dell Computers.

Faction’s existing backers — Denver-based MeritageFunds, and growth equity firms Sweetwater Capital and Charterhouse Strategic Partners — participated in the new funding.

“It’s going to allow us to invest in more people,” said Dan Grote, Faction CFO. “Our goal is to be between 80 and 100 people in the next 12 months — to double in size over the next year.”

Read more at the Denver Business Journal: http://bit.ly/2DuTJEf

Before You Leave, Check This Out