Horizon Data Center Solutions Secures $7.5 Million in Institutional Funding from Ballast Point Ventures
Horizon Data Center Solutions will use a new cash infusion from Ballast Point Ventures to add new data centers in Northern Virginia and California, while also expanding their Dallas presence. Raising capital in this economy is no easy feat, but Horizon DCS has proven its viability with tremendous growth since its launch. The company provides data security, mission critical data back-up and managed information technology services to business and government clients across the nation.
Plano, Texas (PRWEB) November 30, 2009 -
Horizon Data Center Solutions, a leading data center and IT flexsourcing firm serving government agencies, enterprise clients and forward-thinking SMB's, announced today a new round of funding with Ballast Point Ventures (St. Petersburg, FL) serving as lead. BPV, a growth equity firm based in St. Petersburg, FL with $200 million under management, invests in rapidly growing private companies in the Southeast and Texas. Horizon will use the $7.5 million minority equity infusion to open new data centers and expand development of its managed IT services, including its private cloud computing platform.
Paul Johan, a Ballast Point Ventures partner, has joined the HDCS board of directors in conjunction with the financing. "Horizon has delivered outstanding service to its customers and has brought to the marketplace a new approach that provides access to top tier data center space in a format that is scalable and agile" said Johan. "The Horizon approach has been well received by both data center industry analysts and customers, as is evident in their rapid growth, which we found particularly impressive in a very difficult economic environment. We believe the company is well positioned to continue their growth, and we're excited to partner with such a high quality management team," said Johan.
Lance A. Smith, CEO of Horizon, said, "This new investment accelerates our plans for expansion with the addition of new data centers in new markets. We have been working on opportunities in both Northern Virginia and California, in addition to expansion in our Dallas home market. This investment will allow us to move quickly on those opportunities to provide much needed top tier data center services to enterprise, Web 2.0 businesses and government entities in these regions."
Horizon (HDCS) was founded in 2007 by co-founders Lance A. Smith and Chuck Smith, long-time data center industry executives, with investment from the Eric Chancellor Family LTC Partnership (ECFLP). ECFLP is a diversified private investment firm that was founded by Dallas real estate investor Eric Chancellor in 1990. ECFLP will continue its relationship with Horizon in an equity position.
Since the launch, Horizon has secured large government contracts and numerous multi-year agreements with businesses both in Texas and throughout the United States. The company has opened and nearly filled two 25,000 square foot data centers in the Dallas area over the last 18 months. Early in 2009, HDCS acquired Allen-based Mareechi, a managed services provider that provides outsourced IT and hosting services to approximately 100 firms such as Hunt Capital Group, Pizza Hut Park, and the Susan G. Komen Foundation.
For more information on Horizon Data Center Solutions, visit www. horizondcs. com or call 866 620 7516. Ballast Point Ventures can be reached at 727 567 1500, or visit the web site at www. ballastpointventures. com.
About Horizon Data Center Solutions
Horizon Data Center Solutions is a fast growing data center services company led by experts in the data center industry who made the decision to offer customers a better way to do business. The company delivers enterprise quality colocation and managed services to global 250 clients, as well as forward-thinking small and medium sized businesses that demand quality IT infrastructure and a true partner relationship with their IT delivery partner.
About Ballast Point Ventures
Ballast Point Ventures is a venture capital fund established to provide expansion capital for rapidly growing, privately owned companies in diverse industries, with a particular emphasis on companies located in Florida, the Southeast and Texas. The BPV partners have experience investing in and supporting over 75 high-growth companies in the healthcare, business services, communications, technology, financial services and consumer industries. Ballast Point Ventures has $200 million under management and seeks to make minority equity investments ranging in size from $3 million to $10 million. The firm was founded in 2002 by the partners of South Atlantic Venture Funds with an anchor investment from Raymond James Financial (NYSE - RJF). Ballast Point's successful track record recently allowed the firm to raise $140 million for its second fund, exceeding its target of $125 million.