25 Sep 2009 PINS secures EUR 2,5 Million
B2B hosting and managed services provider PINS today announced that it has secured EUR 2,5 million in a series A funding round from European venture capital funds Big Bang Ventures and henQ Invest. The proceeds of this round will be used to strengthen the company’s balance sheet, its technical and operational infrastructure and enable continued accelerated growth.
Since 2005 PINS has successfully executed a buy and build strategy in the Benelux hosting market and intends to make a next step in the coming months. Growth comes from strategic acquisitions as well as autonomous through operational excellence and innovations. Key technology driver is the PINS HyperGridT cloud-computing platform developed by the company.
Jan Willem des Tombe, CEO at PINS sais: “It has been an interesting journey so far and there is still a lot of work to be done in further consolidating this marketplace. There is room for only one leader and we intend to be it. Given their strong track record in our Industry, we are very pleased to have both Big Bang Ventures and henQ on board. We can benefit greatly from their experience, network and further funding capacity for further deploying our company’s successful strategy.”
Frank Maene, Managing Partner at Big Bang Ventures sais: “Over the last few years we’ve been actively looking for a promising hosting provider that could consolidate an otherwise very fragmented local market. PINS has already successfully integrated smaller service providers and is now ready to tackle larger operations. We are very pleased we can assist Jan Willem in his growth plans.”
Coen van Duiven, CEO at henQ Invest says:” We have been following Jan Willem for a few years now, and we have seen him successfully implement a buy and build strategy. We are confident that using the network & experience of HENQ & Big Bang and the execution power of PINS we can be the dominant player in this market”