Teraco secures R47.5m in first-round funding
Teraco Data Environments, the first provider of vendor neutral data centres in South Africa, announces the completion of an R47.5 million `Series A` financing round in which both new and existing investors participated.
Investors in the financing round included Marlow Advisers (a Johannesburg-based advisory and investment group), which advised the business in concluding the investment round, Treacle Private Equity (a Johannesburg-based black-owned private equity fund), and the Pentangle Group, the UK-based principal investment holding arm of Sir Peter Michael, a veteran of IT and media industry investment. Sir Peter was an investor in Storm Telecom in South Africa.
"This investment, paired with the substantial experience of our existing shareholders, will serve as key driving factors in enabling the company to move ahead in building out our first data centre," commented Tim Parsonson, chief executive of Teraco, adding: "I would like to welcome our new investors, while thanking our existing stakeholders for their ongoing support of the company."
Teraco Data Environments
Teraco Data Environments
Founded in 2008, Teraco is Africa's only vendor-neutral data centre colocation operator. Teraco builds and operates its colocation data centres for the most demanding IT infrastructure requirements, including the increased power and cooling demands of today's high-density cloud server computing environments backed by a 99.999% uptime guarantee. Client equipment and data centre environmental parameters are monitored 24x7 by Teraco's Control Centre, staffed by specialists versed in all aspects of IT and colocation facility management. Teraco has grown to include three state-of-the-art colocation data centres in Cape Town, Durban and Johannesburg, and is also home to NAPAfrica, a neutral layer two Internet peering exchange (IX) point. www.teraco.co.za.
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