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SingleHop on the move with $14.8M infusion

SingleHop, a fast-growing Chicago data center and Web hosting company, will announce today a new financing infusion of $14.8 million to keep hiring and expanding locally.

The debt financing from Chicago-based Silicon Valley Bank will let 8-year-old Singlehop move to a bigger headquarters, take on more small and medium-size business customers, and hire 15 engineers and technical developers in the next 12 months.

Singlehop employs 105, after having hired more than 40 new workers in the past 18 months.

The company, which raised $27.5 million in funding two years ago from venture capital firm Battery Ventures, is benefiting from small companies’ need for computing storage and disaster-recovery as those businesses use more bandwidth-eating video and mission-critical mobile apps and other media.

Singlehop will move on May 29 into a 17,000-square-foot office at the Ogilvie Transportation Center that is 4,000 square feet bigger than its current headquarters at 215 W. Ohio.

Singlehop owns two data centers — one each in the South Loop and in Elk Grove Village.

“We are one of the few infrastructure companies based here, and we operate our own facilities,” said Dan Ushman, chief marketing officer and company co-founder with CEO Zak Boca. “Our servers are in our data centers. That creates real jobs.”