Green Cloud Technologies provides virtual servers, cloud-based infrastructure, and disaster recovery services to businesses of all sizes. The company announced recently that it has received $3.1 million in equity from existing investors that it can use to expand its current offerings and build upon its number of channel partners.
According to its latest announcement, the equity comes in addition to $3 million in expansion of its senior credit facility. Green Cloud reportedly hopes to increase its number of channel partners by approximately eight to 10 new partners each month. Its current total of 187 partners have come from natural growth within the cloud technology provision market, but now the company says it will begin seeking acquisitions to help fuel its future growth.
Shay Houser, CEO of Green Cloud -- of no relation to this TMC author -- spoke about the opportunity for the company moving forward.
"The IaaS market, particularly for the SME space, is in the first inning of the game and has years to develop into the more than $50 billion market it will eventually become," Houser said. "Consolidation is an absolute reality and Green Cloud plans to participate aggressively during our quest to $1 billion in value creation."
Green Cloud has been expanding across the period of over two years. For 28 consecutive months, it has seen revenue growth, and within that growth, it has released new products in the fields of private and hybrid cloud, solid state drive configurations, and managed services.
The company has proved itself as a leader not just with its consistent growth. It also recently partnered with Framework Communications to help Framework develop its own managed services and offer its own customers data storage and disaster recovery products. Keith Coker, CTO at Green Cloud, mentioned this past March that Framework is a leader in its own subfield of virtualization and that it sought a way to offer infrastructure-as-a-service and data-as-a-service to its own customers. Coker said, "We were able to give them new functionality and greater control over their new combined product offerings going forward."
Regarding future acquisitions, Green Cloud did not expand on its intentions with detail, but with the consistent growth it has displayed over the past two years, it would not be surprising to see acquisitions come soon. Organic growth may help it continue to grow, but absorbing other market players, and adding their strengths into the fold, can do well to supplement that organic growth and make Green Cloud a true powerhouse in its field.
Edited by
Stefania Viscusi
