Layered Technologies Raises $11 Million

Layered Technologies, Inc. has raised $11 million in investment from private equity firm Enhanced Equity Fund, LP (EEF) and its founding investor, Pangloss International. The new cash will provide Layered Technologies with working capital to expand, develop new products, and accelerate sales and marketing efforts within new enterprise markets.

"We see great potential for Layered Technologies to play a key role in shaping the future of grid computing and virtualized services within the hosting marketplace," said David Howe, Managing General Partner for Enhanced Equity Fund.

Layered Technologies is a provider of on-demand hosting, utility computing solutions and web services with clients in over 120 countries. The Plano, Texas company offers a grid hosting service as well as virtual private data centers.

"The continued growth of our long standing relationship with Pangloss and the expansion of the EEF investment demonstrates the faith our investors place in Layered Technologies' future," said Jack Finlayson, CEO of Layered Technologies. "In the last 90 days, Layered Tech has added significant resources to our sales and marketing, development, and service delivery efforts. We expect the remainder of 2008 to be characterized by aggressive market expansion, new product introductions, and overall growth."