Green Cloud Technologies Closes on $2,750,000 of Additional Financing

GREENVILLE, S.C., Jun 06, 2012 (BUSINESS WIRE) -- Green Cloud Technologies, a Cloud-based technology solutions provider headquartered in Greenville, SC, has concluded a $2,750,000 round of financing that is a mix of Series B Preferred Units and three-year Convertible Notes. The bulk of the financing comes from Millry Corporation, a 70-year-old Incumbent Local Telephone Carrier serving southwestern Alabama. The additional financing will be used for market expansion and the build-out of the company's second data center facility in Nashville, TN. Green Cloud previously secured $1,250,000 through the sale of Series A units in 2011.

"This is another vote of confidence for Green Cloud's strategy from a very savvy and experienced investor group," said Shaler P. Houser, CEO of Green Cloud. "This financing further enables Green Cloud to help businesses transition to our secure, reliable, and robust Cloud-based infrastructure and increase the efficiency and performance of their businesses."

Green Cloud's offerings include VMware-based Virtual Servers, Mirror-Imaged Disaster Recovery, and Hosted Telephone Services.

"We are excited about the opportunity to invest in this area of communications," added Paul Brown, president of Millry Corporation. "Since 1941, we as a company and family have invested directly in local telephone service, Internet access, cellular telephone service, and wireless digital voice/data services and continue today to search for product offerings that will be required for the marketplace. The platform and services that are being offered by Green Cloud are the latest evolution in the industry and will attract business clients through cost savings and, more specifically, customer service. We look forward to the growth of Green Cloud as its CEO and employees concentrate on providing a best-in-market service offering."

Green Cloud recently announced expansion plans into the Myrtle Beach -- Charleston -- Savannah corridor and the Huntsville --Nashville -- Chattanooga area. The company is 100% dedicated to Authorized Partner distribution and uses no direct sales force. By partnering with local consultants, IT managed service providers, and PBX distributors, Green Cloud enables its partners to leverage the benefits of Cloud technologies without making the substantial investments necessary to deploy fully-redundant Cloud services.

ABOUT GREEN CLOUD TECHNOLOGIES, INC

Headquartered in Greenville, SC, Green Cloud Technologies is a Cloud solutions provider for small and medium-sized businesses. Backed by world-class data center facilities and industry-leading platforms such as BroadSoft, VMware, NetApp, and Cisco, Green Cloud delivers managed IT and telecom services that include virtual server, virtual PBX, unified communications, and business continuity solutions. Led by a team of industry veterans that helped found NuVox Communications, Green Cloud helps small and medium-sized businesses use the Cloud to increase productivity, improve performance, and manage technology costs. More information may be found at gogreencloud.com.

SOURCE: Green Cloud Technologies

Green Cloud Technologies
Shaler P. Houser, 864-214-0922
[email protected]

Copyright Business Wire 2012

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