DigitalOcean, a NYC-based cloud computing platform built for developers, secured a $130m credit facility.
KeyBanc Capital Markets led the financing as Joint Lead Arranger and Joint Bookrunner and KeyBank National Association is the Administrative Agent and a lender. The other participants in the deal include Barclays Bank, Pacific Western Bank, East West Bank, Opus Bank, Webster Bank and HSBC Bank USA.
The company plans to utilize these credit facilities, which complement the $83m Series B equity financing, to purchase equipment in order to continue its global expansion and support increasing demand.
Led by Ben Uretsky, CEO, DigitalOcean provides a cloud computing platform built software developers with a registered customer base of 708,000 users that have launched over 13m servers.