Internap, a provider of routing services over the Internet, has secured $17.5 million in new funding from Silicon Valley Bank.
The money, coming in the form of a loan, was used in part to purchase equipment that had been leased.
SVB also renewed a $15 million credit facility, the bank said.
“Silicon Valley Bank has been a valuable financial partner for us as we’ve grown and our financial requirements have grown more complex,” said David Buckel, CFO of Internap. “SVB’s flexibility and willingness to work with us on large transactions, significantly affects our ability to succeed and deliver on our financial goals. This deal is part of our efforts to cut long-term costs and continue to increase our bottom line.”
Internap: www.internap.com
