Dell Technologies Capital, the corporate venturing unit for computing technology producer Dell, has led a $14m funding round for US-based cloud virtualisation services provider Faction.
River Cities Capital Funds, Sweetwater Capital, Meritage Funds and Charterhouse Strategic Partners also participated in the round, while Orix Growth Capital provided debt financing.
Faction provides managed services such as disaster recovery and attached storage for users of VMware Cloud, the cloud platform created through a partnership between virtualisation software producer VMware and cloud services provider Amazon Web Services.
River Cities Capital Funds led an $18m series B round for Faction in March 2018 that included Dell Technologies Capital, Meritage Funds, Sweetwater Capital and Charterhouse Strategic Partners.
The series B took Faction’s overall debt and equity financing to at least $67m, its earlier backers including Meritage, Sweetwater Capital, Charterhouse Strategic, Rifkin-Pottle Group and financial services firms Ares Bank and Square 1 Bank.
Daniel Docter, managing director at Dell Technologies Capital, said: “Faction’s patented technologies and services provide a powerful best-in-class solution for enterprises looking to extend their data centres or migrate workloads to cloud.”
