Tech company Codero Hosting raises $8 million for expansion

Jan 28, 2014
Austin American Statesman

Fast-growing data center operator Codero Hosting has received $8 million in financing to accelerate product development and expand in the U.S. and Europe

Codero received the money from Silicon Valley Bank and Farnam Street Financial

“This is what I would call a mainstream loan that will help us fund our expansion,” said Emil Sayegh, CEO of Codero. “Our financials are very solid and we are profitable, so we’re able to go the more traditional route that more established companies take.”

Founded in 2009, Lenexa, Kan.-based Codero provides cloud hosting services to several thousand companies worldwide, ranging from small businesses to large financial services firms. Customers include Delta Airlines, Baylor University and Expedia

The company opened an Austin office in 2012 and most of its management team, including Sayegh, is based here. The Austin office handles sales, marketing and product development

“The talent pool in Austin is truly exceptional, and it’s also easy to get people to move here, “said Sayegh. “Also, we’ve already hired several Dell people who were affected by the reduction in force there.”

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