Utility hosting services provider Layered Technologies announced on Tuesday it has received private funding of $11 million, led by US private equity firm Enhanced Equity Fund, and Layered Technologies’ founding investor, Pangloss International.

Layered Technologies says the new cash investment will enable the company to expand its current services, develop new products and accelerate sales and marketing efforts within new enterprise markets. The company says it provides custom technology solutions such as on-demand hosting and utility computing services to customers in over 120 countries.

In the past 90 days, Layered Tech says it has added significant resources to its sales and marketing, development and service delivery efforts.

“The money Layered Tech took in today is from the two partners that have been with us for some time,” said Todd Abrams, COO and president of Layered Technologies, in a phone interview. “It really allows us to expand into a few different areas that we’ve working towards — the grid utility-based offering as well as the role of additional managed service offerings.”

And while he could not disclose any specific names of companies that the company currently has its eye on, Abrams says that Layered Tech is seeking “potential strategic acquisitions” and will expand its footprint in “the US and abroad”.

“We’re looking at strategic things that have value-added service offerings or different offerings tied that can leverage into our client base, whether it’s security, management, applications, etc,” said Abrams.

Enhanced Equity Fund is a private equity firm that invests providers of health care and information and technology. In the past, the firm has invested in mobile solutions providers such as Enhanced Wireless and Integrated Mobile. Brussels-based Pangloss International provides job recruitment services including international recruitment, outplacement and training and coaching. As a founding investor of Layered Technologies, the two have had a long-standing relationship.