Voxel, a leading provider of hybrid cloud hosting and managed services, announced today that it has completed a $5.5 million debt and equity capital raise led by Seaport Capital, a private equity firm focused on growth and buyout opportunities in the communications, information technology and business services sectors.
This funding round will provide Voxel with additional growth capital to support increased sales activities and accelerate the deployment of its innovative automated infrastructure services, including physical and virtual servers, content delivery, application hosting and private cloud solutions in North America, Europe and Asia.
"We're excited to announce the completion of Voxel's first outside capital raise and thrilled to have Seaport Capital as a partner," said Raul Martynek, President and CEO of Voxel. "Seaport has extensive experience in the infrastructure services market and their support underscores the success we're seeing in the marketplace with Voxel's services."
"Voxel is an innovative technology and service company in an industry that is seeing tremendous growth," commented Jim Collis, Founding Partner of Seaport Capital. "With the leading edge technology platform Voxel has built, we're excited to work with management and provide the growth capital Voxel needs."
DH Capital, Voxel's New York-based investment banking partner, advised the company on the capital placement and structured a transaction that allowed for Voxel's founders to remain active in the business while adding the management and financial resources needed to grow in the fast-paced infrastructure as a service (IaaS) industry.
"Matching Voxel with Seaport Capital was a terrific outcome for both parties," said Adam Lewis, Managing Director at DH Capital. "Seaport's extensive understanding of the infrastructure services market and previous investment experience in the sector will add tremendous value to the Company as it capitalizes on the market opportunity that exists for Voxel's products and services."
As part of the transaction Jim Collis of Seaport Capital will join Voxel's Board of Directors.