DULLES, Va., June 5, 2012 /PRNewswire/ -- Carpathia Hosting, the leading provider of complex, compliant managed hosting and cloud services for government agencies and enterprises, announced today a $71 million credit facility to support growth initiatives, including investments in sales and marketing, global expansion and the recently announced IBX Vault data center in Dulles, Va. The credit facility is a strong endorsement of the company's track record and significant growth prospects.
"We continue to execute our plan to deliver the most comprehensive managed hosting and cloud services portfolio to our customers globally," said Peter Weber, CEO of Carpathia. "Coupled with the continued support of Spire Capital, this credit facility provides more resources for us to respond to the demands of our prospects and customers as we strive to extend our leadership position for global managed hosting and cloud solutions."
The first quarter of 2012 was another strong quarter for Carpathia, fueled by record new bookings, global expansion and the announcement of the IBX Vault data center in partnership with Equinix. The 64,000 square foot, 7.3 MW facility is being built adjacent to the existing Carpathia Vault in Dulles, Va. and is aimed at supporting industry-specific compliant managed hosting and cloud solutions for healthcare companies, federal agencies and commercial industries.
"We are pleased with the momentum and growth that Carpathia continues to drive on the heels of a strong 2011 and a great start to 2012," said Sean White, Partner of Spire Capital. "This new, increased credit facility further strengthens Carpathia's position to execute key growth initiatives, and we are thrilled to have the support of such an impressive group of financial institutions."
The $71 million credit facility is funded by a consortium of three leading financial institutions: Madison Capital Funding, CapitalSource and Newstar. Madison Capital is the Administrative Agent for the credit facility.
About Carpathia Hosting, Inc.
Carpathia Hosting is a leading provider of managed hosting services, providing secure, reliable and compliant IT infrastructure and management for some of the world's most demanding enterprises and federal agencies. Founded in 2003, Carpathia is a growing, profitable business run by a seasoned management team with deep experience in delivering enterprise hosting solutions including colocation, managed services and cloud computing. Carpathia's suite of services is designed for organizations seeking scalable, secure, robust and enterprise-grade hosting solutions that can be quickly provisioned or tailored to meet unique requirements. Backed by its E3 Promise, Carpathia consistently delivers an experience that exceeds customers' expectations. Carpathia was named to the Inc. Magazine 500|5000 list in 2011 as one of America's fastest-growing companies. Contact Carpathia at 1.888.200.9494, or visit www.carpathia.com for more information.
SOURCE Carpathia Hosting, Inc.