Local web hosting company Media Temple has secured a cool $15 million in growth funding from an investment group led by Triangle Capital. Not only is Media Temple local (Culver City, to be exact), but they are also the hosting company of choice for yours truly, lalawag. So now that the disclaimer is out of the bag, let’s talk about what they plan on doing with all that moolah.
Since this is the company’s first round of outside investment, their stated purpose for this new money is for enhancing new technologies and for interesting projects or teams that will be additive to the company’s core mission. Their core mission, of course, consists of three main hosting levels, ranging from $20 a month for a shared grid service to $750 a month for the premium, dedicated, Nitro server service.
However, don’t expect all of the loot to just bolster current services and projects. It looks like Media Temple has an acquisition appetite as well. Over the last couple of years they have expanded their online network of companies to include social networking and online advertising ventures as well. Although they aren’t expected to gobble up any hosting companies at the moment, CEO Demian Sellfors says, “we certainly have a big appetite.” With that kind of funding, I’m sure they aren’t just talking about In-N-Out burgers either.
With an already impressive product line and a set of tools that are primed for an excellent webmaster experience (including an iPhone app), we’re sure that they will have some good things in store for us ahead, and we’re looking forward to it.
Congrats to Media Temple, you deserve it!
/via TechCrunch
