ORIX Ventures said that it has closed a subordinated term loan to Virtustream, a provider of enterprise class cloud software and services. The money will be used for growth capital, the firm said. Specific terms of the deal were not released.
ORIX Ventures announces the closing of a subordinated term loan to Virtustream, a leading enterprise class cloud software and Infrastructure as a Service (IaaS) provider. The funding will provide growth capital to support further product enhancements and expansion across new geographic markets and industry verticals as demand for enterprise class cloud solutions continues to increase rapidly.
“Its team understands our business, and this financing will further drive client growth, accelerate enhancements to our cloud solutions and expand Virtustream’s geographic coverage to meet rapidly escalating cloud demand, particularly from the enterprise, service provider and government market sectors.”
Headquartered in Bethesda, Maryland, Virtustream delivers enterprise class cloud solutions to enterprises, governments and service providers. With Virtustream, businesses can move complex production applications to the cloud and benefit from the dramatic operational advantages and cost savings of cloud computing. This funding highlights ORIX Ventures’ flexible growth capital solutions for high-growth companies and its ability to team up with Silicon Valley Bank.
“We are excited to be working with ORIX Ventures,” said Mike Provenzano, CFO of Virtustream. “Its team understands our business, and this financing will further drive client growth, accelerate enhancements to our cloud solutions and expand Virtustream’s geographic coverage to meet rapidly escalating cloud demand, particularly from the enterprise, service provider and government market sectors.”
Jeff Bede, managing director in ORIX Ventures’ Washington, D.C. office, commented, “We are impressed by the significant traction and product disruption of Virtustream’s cloud software and IaaS solutions. With our resources, ORIX Ventures is well equipped to support its continued growth as a leading cloud software and IaaS provider.”
About ORIX Ventures
ORIX Ventures provides customized financial solutions to mid- and late-stage growth companies with established customers and run-rate revenues of $10 million or greater. ORIX Ventures is capable of leading debt or private equity transactions with total commitments as high as $50 million. Since its inception in 2001, ORIX Ventures has invested more than $1 billion across more than 100 growth companies throughout the U.S. and Canada. For more information on ORIX Ventures, visit us at www.orixventures.com. ORIX Ventures is a subsidiary of ORIX USA, a Dallas-based financial conglomerate with more than 1,400 employees and primary offices in Dallas, New York, Los Angeles, Columbus and Minneapolis. ORIX USA holds approximately $6 billion of assets and manages an additional $25 billion. ORIX USA is a wholly owned subsidiary of ORIX Corporation, a Tokyo-based, publicly owned international financial services company with operations in 28 countries worldwide. ORIX Corporation is listed on the Tokyo (8591) and New York Stock Exchanges (IX). For more information on ORIX USA, visit www.orix.com.
Please contact any of our ORIX Ventures’ offices to discuss your company’s vision. http://orixventures.com/contact/
Virtustream is a leading cloud innovator offering enterprise class cloud solutions to enterprises, governments and service providers. Virtustream enables businesses to move complex production applications to the cloud – whether private, public or hybrid – while delivering the full economic and business benefits of the cloud. Virtustream offers xStream, cloud management software for private/public/hybrid clouds and also offers the Virtustream Cloud which provides secure, high availability, Infrastructure as a Service (IaaS) to enterprises. Both xStream and the Virtustream Cloud deliver secure, cloud efficiency with performance SLAs for mission critical applications (SAP, Oracle, Microsoft and thousands more). Virtustream’s solutions are backed by professional services to design, migrate to, and manage clouds.
Virtustream offers these enterprise class cloud solutions worldwide; owns data centers in the U.S. and EMEA; operates an international Cloud Exchange, SpotCloud®; has offices in San Francisco, Atlanta, New York, Washington D.C., Toronto, London, Dubai, Saudi Arabia and has partners in Asia and China.