Hosting and cloud services provider Layered Technologies, Inc. has secured a $38 million credit facility to fund the company’s investment in growing its compliant hosting and cloud services. Fortress Investment Group is funding the $38 million credit line.
The Plano, Texas-based company provides compliant hosting services that adhere to financial payment card industry (PCI (News - Alert)), Health Insurance Portability and Accountability Act (HIPAA), and Health Information Technology for Economic and Clinical Health (HITECH) Act requirements.
“Layered Tech has experienced very healthy customer growth with our market-leading compliant hosting and cloud services, both in terms of new customers and expanding business with existing customers, so the new financing will help us support continued high growth and expansion of our capabilities,” said Jack Finlayson, chairman and CEO of Layered Tech.
The company’s secure hosting and cloud and virtualization services, along with its managed services capabilities, allow customers to build their e-business applications, Finlayson said.
Layered Tech also provides conventional enterprise-class hosting and cloud services, which are delivered to Integrated Software Vendors (ISVs) and SaaS (News - Alert) verticals.
“We are excited that Layered Tech has expanded its capital base through this new credit facility. The company has significantly increased its capacity for growth through continued investment in their compliant hosting market-leadership position,” said Ben Bisconti, managing director of Accel-KKR. “Layered Tech has done an outstanding job delivering critical hosting and cloud services to its customers, and we look forward to their continued success.”
Back in February, Layered Tech introduced its service-level agreement (SLA) offering conformity assurance, which is guaranteed to clear all audits or assessments authorized by the applicable industry or regulatory bodies.
Company officials said the complete range of IT controls that influence compliance including Payment Card Industry-Data Security Standard (PCI-DSS) and HIPAA are managed by Layered Technologies. All compliant hosting customers of Layered Technologies are provided these services at no additional cost.
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Edited by Rachel Ramsey