Montreal Tech Watch

iWeb announces $22 million funding from Goldman Sachs

By Heri Aug 28th 2008 in Finance, Hosting

iWeb Inc. announced yesterday a whopping $22 million funding by Goldman Sachs, a leading New York investment bank. The funding is mostly debt, with also $3 million provided in shares.

iweb

The funding is said to fuel growth for its data centers, add infrastructure for their dedicated servers offers. iWeb announced a new & third data center at Ile-Des-Soeurs six months ago, but I know that the data center is already filling up fast in capacity, and they might already be considering new infrastructure.

It’s the fist time that Goldman Sachs funds a quebec-based company. One of its competitors, Morgan Stanley, also announced a few months ago opening operations in Montreal.

Congrats to iWeb and its founders, Eric Chouinard and Martin Leclair!

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