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nGenX Uses Millions in Equity Funding for Expansion

March 14, 2011 - News

CHANNEL PARTNERS Data center operator nGenX LLC (Booth #1111 at the Channel Partners Conference & Expo) has raised $5.2 million in equity.

nGenX specializes in managed servers, data backup and software hosting for the cloud, and sells through the indirect channel.

The money came from a private equity group made up of former Q-Comm Corp. stockholders; Q-Comm owned nGenX until Dec. 2, 2010, when Windstream Corp. closed its Q-Comm purchase. The $5.2 million also followed a $2 million infusion in autumn of 2010. nGenX used that round for infrastructure and new billing, website and CRM platforms.

“We now offer all the geographic redundancy and failover capabilities of the largest cloud services providers while maintaining our flexibility to provide tailored cloud solutions to meet market demand," said Sam Newberry, nGenX CTO. nGenX operates data centers in Indiana and Kentucky.

Now, said nGenX, the $5.2 million will go toward expansion including sales, marketing and hiring.

“nGenx is ripe for meteoric, organic growth from both its direct and indirect sales channels," said Robert A. Bye, president of nGenx. “These investments are helping the company forge a path to support our projected growth in 2011 and 2012."

The company also has a separate pool of money for acquisitions.

nGenX, founded in 2000, provides cloud computing and Infrastructure-as-a-Service for enterprises’ data, applications, servers and backup. Its vendor partners include Microsoft Corp. Citrix, VMware, Sage and Research In Motion.

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