MacStadium Secures $3 Million Debt Facility from Silicon Valley Bank
Jun 13, 2017, 03:00 ET
ATLANTA, June 13, 2017 /PRNewswire/ -- MacStadium.com, the Mac hosting authority and only provider of Mac Pro private cloud infrastructure-as-a-service ("IaaS") around the world, today announced that it has received a $3 million debt facility from Silicon Valley Bank, the bank of the world's most innovative companies and their investors. MacStadium recently raised a growth capital investment from Summit Partners and Noro-Moseley partners, and will use the financing for general corporate purposes.
Founded in 2012, MacStadium leverages its proprietary, patented platform and dedicated servers to provide hosted cloud solutions to iOS developers in more than 50 countries around the world. With operations in Atlanta, Georgia, Las Vegas, Nevada and Dublin, Ireland, the company serves more than 2,500 customers and has experienced three-year sales growth of 950% from 2013 to 2016.
Having access to efficient debt resources is a key component to support our consistently high growth rate.", said Gregory McGraw, CEO of MacStadium. "SVB's experience, creativity and great partnership with technology centric businesses is a critical part of our overall success. We continue to appreciate their product innovation and strong capital commitments to help us grow our business, year over year."
"MacStadium is a leader in on-demand cloud IaaS for Mac hosting and private cloud solutions for customers across the world," said Thomas Armstrong, director of Silicon Valley Bank in Atlanta. "We're excited to build upon our existing partnership with MacStadium to support the company as it continues to mature and expand globally."
About MacStadium
MacStadium is a leading provider of on-demand cloud IaaS, offering managed Mac hosting and private cloud solutions for individuals and organizations of all sizes. MacStadium is headquartered in Atlanta, Georgia with growing operations in Las Vegas, Nevada and Dublin, Ireland. Learn more at MacStadium.com
About Silicon Valley Bank
For more than 30 years, Silicon Valley Bank (SVB) has helped innovative companies and their investors move bold ideas forward, fast. SVB provides targeted financial services and expertise through its offices in innovation centers around the world. With commercial, international and private banking services, SVB helps address the unique needs of innovators. Learn more at svb.com.
©2017 SVB Financial Group. All rights reserved. Silicon Valley Bank is the California bank subsidiary of SVB Financial Group. Silicon Valley Bank is a member of FDIC and Federal Reserve System.
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