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Silicon Valley Bank led cloud company SingleHop’s $14.8 million raise this week. The round, which puts SingleHop’s total amount raised at $42 million since its 2006 launch, will go towards making strategic acquisitions and building out its products.
Chicago Heights-based SingleHop provides cloud IaaS and managed hosting for SMBs with its arsenal of 14,000 physical servers, four data centers and over 500 resellers and channel partners.
SMBs are the sweet spot for SingleHop “because we have the scope and breadth of services to design the optimal infrastructure for each client," CEO Zak Boca said in a statement. SingleHop works with over 4,000 customers in 124 countries giving fully them managed or self-service dashboards and its LEAP client portal which allows access to systems from any device.
"While so many companies are finding it increasingly difficult to reap the benefits of cloud infrastructure without large IT departments to implement and maintain them, SingleHop has the technology and the commitment to customer success that makes a big difference for companies of any size," Dennis Grunt, Director of Silicon Valley Bank in Chicago, said in the statement.
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