Faction Secures $14 Million for Product Enhancements, Multi-Cloud Services, and Global Expansion
Leading Managed Provider of Multi-Cloud Environments Will Use Funding to Accelerate Enterprise Adoption of Multi-Cloud Storage and Managed Services
Faction, a leading Managed Service Provider for VMware Cloud on AWS, announced it has secured $14 million of new financing to fund continued growth. The investment will be used to broaden Faction’s Hybrid Disaster Recovery-as-a-Service (HDRaaS) across public clouds, enable multi-cloud storage via deeper integrations with leading storage portfolio solutions, and expand their global data center footprint.
The investment round was led by Dell Technologies Capital, and includes existing investors River Cities Capital Funds, Sweetwater Capital, Meritage Funds and Charterhouse Strategic Partners. In addition to the equity financing, Faction also secured new debt financing from ORIX Growth Capital.
“Throughout 2018, Faction saw an explosion of interest in customers looking for cost-effective solutions for running VMware Cloud on AWS. We have experienced impressive growth in our Hybrid Disaster Recovery-as-a-Service and Faction Cloud Control Volumes for VMware Cloud on AWS offerings” said Luke Norris, Founder and CEO of Faction. “The need for high-performance and scale-out storage that can expand with customers’ needs across clouds including Azure, AWS, Google Compute Engine and VMware Cloud on AWS is only going to increase. This investment will enable us to reach more customers faster with an even stronger portfolio of managed multi-cloud solutions.”
“Faction’s patented technologies and services provide a powerful best-in-class solution for enterprises looking to extend their data centers or migrate workloads to cloud,” says Daniel Docter, Managing Director at Dell Technologies Capital. “VMware Cloud Foundation and Faction, powered by leading storage platforms, are directly addressing customer demand for a multi-cloud world.”
According to Gartner, the future of cloud adoption will be dominated by a hybrid and multi-cloud model. The firm states that 75% of organizations will have deployed a multi-cloud or hybrid cloud model by 2020. The market size for cloud is growing exponentially and is projected to be a $317 billion industry by 2022. Faction is leveraging this investment to seize this immense opportunity with a portfolio of services to solve the challenges enterprises experience as their environments expand across multiple hyperscale cloud providers.
Faction will use this investment across three key product areas:
- Hybrid Disaster Recovery-as-a-Service (HDRaaS): Faction’s Hybrid Disaster Recovery-as-a-Service provides a warm standby approach to Disaster Recovery with VMware Cloud on AWS. The solution provides additional methods for replication and ways to land customers’ data in VMware Cloud on AWS while reducing the costs of disaster recovery.
- Multi-Cloud: Faction Cloud Control Volumes™ (CCV™) enable cross-cloud storage for customers using Faction private cloud, public clouds and VMware Cloud on AWS – with storage platforms strategically located in datacenters that deliver low cost and low latency connections to AWS, Azure and Google Cloud Platform. Cloud Control Volumes™ centralize data in a dedicated and durable location so customers can easily share data between different applications across different clouds.
- Global Expansion of VMware Cloud on AWS: Faction is rapidly expanding its VMware Cloud on AWS availability zones throughout the U.S., EMEA and APAC.