DigitalOcean, a start-up based in New York City, secured a $130 million credit facility to continue its mission of building a next generation cloud for scaling startups and software defined businesses.
DigitalOcean offers SSD-enabled cloud servers with simplified pricing tiers.
The company said that over the past two years it has expanded its registered customer base from 253,000 to 708,000 users, who have launched over 13 million cloud servers. The credit facilities will be used to purchase equipment in order to continue its global expansion and support increasing demand.
“We are delighted with the outcome of our credit facility. It complements the $83 million Series B equity financing that we closed in June 2015 and our strong cash flows and balance sheet in pursuing long-term growth opportunities,” commented Brian Cohen, Chief Financial Officer of DigitalOcean.
DigitalOcean Raises $83 Million for Cloud Hosting
DigitalOcean, a start-up based in New York City, announced $83 million in Series B funding for its cloud infrastructure for developers of websites and applications.
DigitalOcean offers simple cloud hosting with all servers built on powerful Hex Core machines with dedicated ECC Ram and RAID SSD storage. The company notes that more than 6 million Droplets (cloud servers) have been deployed on DigitalOcean by more than 500,000 developers to date.
The funding round was led by Access Industries, with participation from Andreessen Horowitz.
