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Teraco Raises USD 6 Million In Series-B Round

South Africa based Teraco Data Environments (Pty) Limited, founded in 2007, and a carrier neutral colocation facility, has augmented its operating capital with a further R50-million (USD 6 million) in a successful Series-B round of financing, consisting of equity and loans. This follows on the conclusion of a Series-A financing round of R45-million in 2008. Series-A investors participated in this second round with one new investor, Guy Willner, co-founder and CEO of IXEurope (now Equinix Europe) who recently joined Teraco?s board. About 65% of the funding, making up the bulk of the investment, was provided by Treacle Private Equity a majority black owned South African private equity group. This brings Teraco?s black ownership up to 31%. Teraco is an accredited Level 4 BEE contributor (DTI codes). The finance will fund the development of the company?s new data centre in Isando on the East side of Johannesburg. Construction is underway and will be completed by the end of the year. A number of Teraco customers have entered into agreements to move their telecommunications and IT equipment into the facility from January 2009. Teraco Isando has a power capacity, supplied by dual feeds from Eskom, of 7 MVA (megavolt ampere), which is sufficient to cater for Teraco?s plan to expand the site, in various phases, to 3,500 square metres. All major South African carriers currently colocated in Teraco?s data centre in Cape Town will also be present in the new Isando colocation facility. Isando in the Ekurhuleni Municipality, is located more than 25km from Sandton Midrand and central Johannesburg, which offers an ideal disaster recovery site for companies wanting to safeguard their data from power failures in the main business districts. The building also offers a high site for companies looking into utilising wireless services.

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