Codero Hosting announced today that it has raised $8 million in funding for the deployment of new data centers across the United States and Europe.

Silicon Valley Bank (SVB) and Farnam Street Financial provided this round of financing, which, according the hosting company, is a loan, not an equity investment.

The funding be used for both new data centers and to expand the Codero portfolio to serve more customers and multiple data center locations, Codero said.

Codero Hosting President and CEO Emil Sayegh told Talkin' Cloud in an email that some of the funding will go toward channel partner program incentives.

"We are committed to our channel partners through our channel program by doing co-marketing, events, training, etc.," he said. "Some of these funds will go to such initiatives."

Sayegh added that the hosting company's "product and geographic expansion will offer more channel partners opportunities to sell Codero’s services."

"What we are seeing is the rapid and strong emergence of the hybrid cloud," he said. "The hybrid cloud brings all the benefits of the cloud that CIOs and developers alike love with the unbridled performance of traditional infrastructure."

Hybrid cloud solutions are built differently from one another, he suggested, noting that many solutions do not have the "on-demand nature of hybrid."

"If it is custom, then it is expensive and may require a contract (no one likes that)," he said. "We truly believe that what companies need is an On-Demand Hybrid Cloud that spools up dedicated bare metal servers for high performance and virtual cloud servers for front end applications instantly on demand with no contracts."

The news builds on Codero's October extension of its hybrid cloud offering with the introduction of On-Demand Hybrid Cloud Hosting.

Follow CJ Arlotta on Twitter @cjarlotta for further updates on the story above.