TierPoint Rounds Up $320 Million in Investment Funding

TierPoint, the provider of information technology and data center services, has a financial agreement with multiple investors for $320 million in new funding. 

The company, which offers cloud, collocation, managed services, network services, security and compliance, disaster recovery and backup solutions, reached an agreement for the funding with a consortium of new investors –  Argo Infrastructure Partners, Wafra and Macquarie Capital Principal Finance – and existing investors Cequel III, Ontario Teachers’ Pension Plan, RedBird Capital Partners, The Stephens Group and Thompson Street Capital Partners. 

“Jerry Kent and the TierPoint senior management team have proven themselves as leaders in the digital infrastructure sector, and we are excited to partner with the TierPoint team to help fund the company’s next phase of growth. TierPoint is well positioned for robust growth that will allow the company to expand its market leading position and capitalized on the tailwinds supporting the data center industry,” said Fawaz Al-Mubaraki, CE of Wafra.

TierPoint, which serves customers in the U.S., expects the transaction to close by mid-April. 

TierPoint’s Jerry Kent

“This investment agreement was reached in what we all know is a very challenging environment. That’s a testament to the strong performance TierPoint has already achieved and our prospect for continued growth,” said Jerry Kent, TierPoint’s chairman and CEO. “Our business has tremendous momentum. In the last two years, we’ve increased sales bookings by 26% and the first quarter of 2020 will be another outstanding growth period. 

Most recently, TierPoint, launched Cloud to Cloud Recovery powered by Nutanix for replication and disaster recovery orchestration, with a TierPoint-managed hosted private cloud in the recovery environment. 

TierPoint works with channel partners and offers business model consulting, sales and marketing support, including proactive training, a partner portal, a dedicated team of channel directors and engineers, the ability to sell all of TierPoint’s services, and competitive compensation, according to the vendor. The TierPoint channel partner program has three different types of partnerships: referral, resale and broker. 

Two TierPoint channel employees won Cloud Girls Rising Awards in 2019: Alexa Sorice, account executive, and Melanie Sunahara, national channel director. Cloud Girls is a vendor-neutral, not-for-profit community of female technology advocated, dedicated to educating themselves, their organizations and customers about the vast and dynamic cloud ecosystem.