What Company Is Offering:
CoreXchange is the IT industry's first network access exchange provider, delivering custom Internet bandwidth solutions and network infrastructure availability services. Headquartered in the nationally-recognized Dallas Infomart carrier center, CoreXchange is led by a highly experienced team of networking services technologists and executives.
How Much They Got From VCs:
The industry's first network access exchange provider, announced that it has completed a convertible note financing led by Red Barn Investments and has secured a credit facility with Silicon Valley Bank. Funding terms were not disclosed.
"Red Barn is pleased to increase its investment commitment in CoreXchange," according to Pat Pollard, Red Barn managing director. "CoreXchange continues to execute on its business plan and capitalize on the significant market opportunity of providing high-availability network services to enterprises."
CoreXchange will use the investment and credit line proceeds for the build-out of additional network and data center infrastructure and to support the continued development of its service offerings.
"We are dedicated to helping high-growth technology companies like CoreXchange reach their goals," stated Brian Brown, senior relationship manager of Silicon Valley Bank. "Our bank's innovative approach, financial resources, and network of business relationships will provide a long-term benefit to CoreXchange as it pursues its compelling business model."
About VCs:
Red Barn Investments is a private equity firm located in Northbrook, Illinois that invests in small and mid-sized companies where its expertise and relationships can assist in creating value over the long term. It typically invests between $1 to $5 million in transactions valued up to $30 million. To learn more about Red Barn Investments, visit the website at www.redbarnllc.com.
More at:www.corexchange.com
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