Online Tech plans to use an infusion of $20 million in investment capital to expand its local data center empire across the Midwest.
News-Press & Gazette Co is investing that huge chunk of change into
Online Tech so it can build four more data center's within the next two years. These data centers will allow the Ann Arbor-based company to penetrate a handful of new markets in middle America. Online Tech's footprint currently covers Ann Arbor and Flint.
The 9-year-old firm has hired six people over the last year, expanding its staff to 35 employees and the occasional summer intern. The company plans to keep hiring at an accelerated pace for the rest of the year, possibly doubling its staff within the next few years.
"We will probably pick up 20-30 people in the next 18 months," says Yan Ness, CEO of Online Tech. "If I could find these 20 people right now, I would hire them."
Online Tech started putting out feelers to raise a round of investment capital early this year. The idea is to leverage that cash to accelerate its growth. Eleven investors expressed interest. Online Tech narrowed that list to two and choose News-Press & Gazette Co because of its company culture.
Source: Yan Ness, CEO of Online Tech
Writer: Jon Zemke
Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.