C7 Data Centers just announced an injection of $25 Million from MCG Capital for capital expenditures. Currently C7 owns and operates 3 data centers in Utah, totaling some 85,000 sq. ft. of data center floor space, and needed the additional capital for building additional data center space.
“We’re growing faster than we can build facilities, so this funding is going to be used for capital expenditures, not working capital,” C7 CEO Wes Swenson said Tuesday. “The company has been profitable the last three years but our demand is growing faster than our cash flow will provide for.”