BitTitan, a Bellevue, Wash.-based cloud services provider, has raised additional funding.
The company reeled in what it describes as “growth capital” from Vancouver, B.C.-based firm Vistara Capital Partners. BitTitan did not reveal a specific dollar amount.
“With the flexible financing package provided by Vistara, BitTitan is positioned to further its vision via organic growth and acquisitions,” BitTitan founder and CEO Geeman Yip said in a statement.
Founded in 2007, BitTitan sells to IT service providers, value-added resellers, and system integrators, helping them migrate to the cloud via its product MigrationWiz. It also recently rolled out Voleer, an IT services automation platform. The company competes with Dell, Amazon, Google, Microsoft and others.
Yip bootstrapped the company for nearly a decade before raising a $15 million round in June 2016. BitTitan won the Next Tech Titan honor at the GeekWire Awards in 2017 but also went through small layoffs later that year.
BitTitan has more than 150 employees and expects to add another 50 over the next year, getting headcount back to where it was in late 2017. It operates in more than 180 countries and has an additional offices in Singapore.
Vistara offers growth capital solutions that allows the firm to invest as debt and/or equity. It typically invests $5-to-$15 million per deal and focuses on enterprise software and fintech.
“BitTitan’s vision for IT automation is ambitious, while the value proposition is highly relatable to employees and IT professionals experiencing the transformative benefits, but everyday challenges, of operating in the cloud,” Vistara Partner Noah Shipman said in a statement.
