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DENVER, April 03, 2019 (GLOBE NEWSWIRE) -- Faction, a leading Managed Service Provider for VMware Cloud on AWS, today announced it has secured $14 million of new financing to fund continued growth. The investment will be used to broaden Faction’s Hybrid Disaster Recovery-as-a-Service (HDRaaS) across public clouds, enable multi-cloud storage via deeper integrations with leading storage portfolio solutions, and expand their global data center footprint.
The investment round was led by Dell Technologies Capital, and includes existing investors River Cities Capital Funds, Sweetwater Capital, Meritage Funds and Charterhouse Strategic Partners. In addition to the equity financing, Faction also secured new debt financing from ORIX Growth Capital.
“Throughout 2018, Faction saw an explosion of interest in customers looking for cost-effective solutions for running VMware Cloud on AWS. We have experienced impressive growth in our Hybrid Disaster Recovery-as-a-Service and Faction Cloud Control Volumes for VMware Cloud on AWS offerings” said Luke Norris, Founder and CEO of Faction. “The need for high-performance and scale-out storage that can expand with customers’ needs across clouds including Azure, AWS, Google Compute Engine and VMware Cloud on AWS is only going to increase. This investment will enable us to reach more customers faster with an even stronger portfolio of managed multi-cloud solutions.”
“Faction’s patented technologies and services provide a powerful best-in-class solution for enterprises looking to extend their data centers or migrate workloads to cloud,” says Daniel Docter, Managing Director at Dell Technologies Capital. “VMware Cloud Foundation and Faction, powered by leading storage platforms, are directly addressing customer demand for a multi-cloud world.”
According to Gartner, the future of cloud adoption will be dominated by a hybrid and multi-cloud model. The firm states that 75% of organizations will have deployed a multi-cloud or hybrid cloud model by 2020. The market size for cloud is growing exponentially and is projected to be a $317 billion industry by 2022. Faction is leveraging this investment to seize this immense opportunity with a portfolio of services to solve the challenges enterprises experience as their environments expand across multiple hyperscale cloud providers.
Faction will use this investment across three key product areas:
To learn more about the Faction portfolio of multi-cloud services, please visit www.factioninc.com. For those interested in following the latest news on VMware Cloud on AWS, Faction has a monthly VMware Cloud on AWS newsletter. Subscribe here: Faction Digest for VMware Cloud on AWS.
Faction is a leading managed services provider for VMware Cloud on AWS, including disaster recovery and production deployments, and a provider of attached storage to VMware Cloud on AWS. Faction helps customers migrate to multi-cloud, powered by patented technology that provides low latency, high throughput connections to all the major clouds, including AWS, Azure and Google Cloud Platform. Faction’s private and multi-cloud platforms give clients the ability to move, access, scale and protect data between clouds, without the fear of cloud lock-in. Faction is recognized as an Advanced AWS Consulting Partner and VMware Premier Cloud Provider. Follow Faction on Twitter (@FactionInc) and LinkedIn. For more information, please visit www.factioninc.com.
Contact: For Faction: Jenny Good firstname.lastname@example.org