IaaS Provider Faction Raises $11 Million in Funding
Summary
Cloud infrastructure provider Faction has raised $11 million in new funding to help expand the company and meet customer demand. “The continued substantial support we’re receiving from reputable and knowledgeable investors is a testament to the groundbreaking technology developments we’re creating in the cloud arena, especially with our unique hybrid cloud and multi-cloud environments,” Luke Norris, CEO and Founder of Faction said in a statement. “The Faction team has earned our respect and enthusiasm by consistently delivering strong top-line growth coupled with substantial gross margins,” David Solomon, Managing Director of Meritage Funds said. Though the public cloud market is highly competitive, IaaS providers that focus specifically on the channel are a bit harder to come by. Faction is part of this latter group, which includes Cambridge, Mass.-based ProfitBricks, and Neverfail, which is based in Austin, Tx.