Cloud services provider Green Cloud Technologies, which has a channel-only sales model, has secured a $2 million senior line of credit from North Carolina-based Square 1 Bank. The line of credit will be used toward Green Cloud's ongoing expansion.
"Square 1 is a fantastic lending partner for Green Cloud," said Shay Houser, chief executive officer of Green Cloud. "We look forward to a long relationship as we grow over the coming months and years."
Green Cloud says it's working to expand its sales and marketing presence as well as to fund more data center facilities and operations.
The Greenville, S.C.-based company is adding senior channel managers throughout the Southeast and is accelerating its recruitment of channel partners in the region. Disaster recovery and virtual-server solutions continue to lead sales for Green Cloud, which also offers unified communications, hosted PBX and more for SMBs.
It was only back in April that Green Cloud announced landing $5.6 million in new Series C equity from Millry Corp., the company's largest backer. This latest funding brings the company's total to $11.6 million.