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BurstNET Technologies arranged growth capital in 2012 through Harbor Ridge Capital, but neither the investment amount nor the institutional investor’s identity was disclosed. The Scranton, Pennsylvania, hosting provider said it planned a 30,000-square-foot data center to replace its headquarters and intended to expand into new markets.
Who funded BurstNET’s expansion?
In an announcement reported by DataCenterKnowledge on January 19, 2012, BurstNET said Harbor Ridge Capital arranged growth financing from an institutional investor. The report did not name the investor, disclose the amount raised, or provide financing terms. It is therefore not possible to establish from the announcement how much money BurstNET received.
CEO Shawn Arcus described the financing as the company’s first institutional capital after growing through bootstrapping. He said it was intended to support BurstNET’s next stage and its effort to pursue larger, more complex hosting and colocation opportunities.
What was BurstNET planning to build?
The company planned a new 30,000-square-foot facility in Scranton to replace its headquarters. The announcement presented the larger data center as part of BurstNET’s expansion plan, but did not give a construction schedule, budget, or opening date.
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- PCI & HIPPA and EIA/ECA-310-E compliant
How did BurstNET plan to grow?
The company said it would use the financing to expand into markets where demand was high and to add customer-service and software-development resources. Harbor Ridge operational partner Arman Khalili characterized data centers and complex hosting as a growing area for investment and predicted more merger-and-acquisition activity in the sector during 2012.
What services and locations did BurstNET have at the time?
In 2012, BurstNET offered cloud computing, dedicated servers, virtual private servers, and colocation racks and cages. Its primary data center was in Scranton, and it reported points of presence in four additional global locations. These are details about the company at the time of the financing announcement, not a description of its current services or footprint.
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- Save valuable floor space: 12U wall mount server cabinet Dimensions: 24.25" H x21.65" W x17.72" D. MAXIMUM MOUNTING DEPTH is 14.2".
- Keep critical network equipment secure: glass door and side panels are lockable to prevent unauthorized access; Front door can be installed on either side of the front of the cabinet to satisfy your door swing orientation preference
- Easy equipment configuration: Fully adjustable mounting rails and numbered U positions, with square holes for easy equipment mounting with top and bottom punchout panels for easy cable access
- Durability: Made of high quality cold rolled steel holds up to 110lb (50kg) (Easy Assembly Required)
- PCI & HIPPA and EIA/ECA-310-E compliant
Was the planned data center completed?
The January 2012 announcement establishes that BurstNET planned the facility, but does not establish whether construction was completed. It also does not document what happened to BurstNET afterward, so the financing announcement alone cannot answer either question.
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