Denver, CO — Inflow, Inc., a leading provider of managed web hosting and IT services, today announced it has raised an additional $35 million in private equity financing. The additional capital will be used to enhance the company’s service platform.
This new round of financing is being led by established venture capital firms Telecom Partners, Centennial Ventures and Meritage Private Equity Funds in Denver, Colo., and includes Inflow’s existing investors:Spire Capital Partners, The Halyard Capital Fund, Stolberg Equity Partners and Cornerstone Equity Investors. To date, Inflow has raised $297 million in equity capital.
“Unlike most managed service providers, Inflow has continued to grow its business in a very tough environment, making it a smart investment for us,” said Steve Schovee, Managing Member, Telecom Partners. “Inflow has created an automated service platform that gives it a huge advantage in this industry and has consistently delivered world-class customer service as evidenced by its 9.2 customer satisfaction rating.”
“Inflow has a culture that is unsurpassed in its focus on the customer. This concentration is infused in the organization at every level, making its customer loyalty extraordinary,” said Jack Tankersley, Managing Director, Meritage Private Equity Funds.
Inflow’s 12 key markets support more than 650 customers including well-known brands such as Comcast (NYSE: CMCSA), Seitel Corporation (NYSE: SEI) and Hoovers, Inc. (NASDAQ: HOOV). Inflow will maintain its existing footprint across the country, which will sustain all client operations and any new service offerings.
“This financing, coupled with Inflow’s recent restructuring, will bring the company to EBITDA positive by July 2002, establishing itself as a market leader. This kind of confirmation takes the question of financial viability off the table completely,” said Art Zeile, CEO of Inflow.
Inflow’s suite of services includes solutions for web hosting, business continuity / disaster recovery and managing other company’s data centers. Its menu-driven approach allows customers to select Inflow’s services – from managed firewalls to data storage to supporting application development and testing. Inflow’s service level agreements lead the industry with a 100 percent guarantee for Internet and power availability
Companies with critical Internet and infrastructure applications trust Inflow’s Internet Data Centers (IDCs) and managed hosting services, which enhance Web performance, ensure Internet uptime and deliver the highest customer satisfaction. Inflow guarantees 100 percent Internet availability through multiple Tier-1 ISP networks, offering a highly scalable, reliable service. Inflow’s cost-effective services, backed by certified engineers and first-rate customer service, allow companies to focus on their core businesses.
For additional information and IDC locations, please visit www.inflow.com or call 877-321-2464.