Peak 10 Raises $18.5 Million

Feb. 23, 2001 -- Peak 10, Inc., a data center provider focusing on "tier II" cities throughout the Southeast, has secured $18.5 million of funding led by Seaport Capital of New York City, Frontier Capital of Charlotte, and other private investors, the company said today.
. "This funding will allow us to accelerate the build-out of our Technology Gateways and continue to address the growing demand for premiere hosting in the Southeast," said Nicholas Kottyan, President and CEO of Peak 10.
Peak 10 has already opened two Technology Gateways since August, a 14,000 square foot facility in Jacksonville and a 26,000 square foot facility and corporate headquarters in Charlotte. The company plans to be in several additional southeast cities by year end 2001.
"Peak 10 is well positioned to take advantage of growing demand for Tier I caliber Internet infrastructure in Tier II markets," said Kevin Brandon with Seaport Capital. "The company offers data service and enterprise customers a regional, carrier diverse option to outsource their data center requirements."
Brandon and Jim Collis of Seaport Capital, and Richard Maclean of Frontier Capital will join Peak 10's Board of Directors.
Charlotte-based Peak 10, Inc. is a privately-held company founded by technology veterans Kottyan and David Jones.