Highwinds closes $35M debt refinancing

Content delivery network Highwinds Networks announced today it had wrapped up a $35 million debt financing led by Silicon Valley Bank. Highwinds said it would use the proceeds of the financing to refinance existing debt and accelerate growth. The CDN has venture capital support from Alta Communications, General Catalyst Partners and the European Founders Fund.

"With sustained growth, continued success in the market and a desire to have the flexibility to further expand our platform and network to bring valuable content to users around the world, we sought out a banking partner to help us achieve our business objectives," said Steve Miller, president and CEO of Highwinds. "Because of our favorable financial profile and Silicon Valley Bank's understanding of our business and market dynamics, they were the ideal partner in executing this all-important new financing."

Highwinds is a content, network and hosted IP services business. It delivers live event streaming, on-demand video and large file downloads over its RollingThunder network. Highwinds is headquartered in Winter Park, Fla., and maintains data centers throughout North America, South America and Europe.

For more:
- see this release