365 Data Centers Secures New Financing from Fortress Credit
365 Data Centers announced it raised $16 million in series B funding from existing investors Crosslink Capital and Housatonic Partners and has secured a $55 million credit facility from Fortress Credit, an affiliate of Fortress Investment Group, that enables the company to execute on its continued expansion strategy.
The financing will be used for ongoing operations and to help the company realize its growth strategy as a provider of colocation services in tier 1 and tier 2 U.S. markets. The funds will also be used to develop new data center products, as well as expanding its cloud and managed services offerings. With a presence in 16 U.S. markets, more than most other colocation providers, 365 Data Centers provides highly reliable data center services with cloud-like, commitment-free contract terms that are ideally suited for service providers, content providers, carriers, and small to medium-sized businesses.
“At Fortress, we have provided financing to many leading data center companies. In our view, 365 Data Centers is similarly positioned to succeed in the expanding data center and cloud industries,” said Aaron Blanchette, managing director at Fortress Investment Group. “We look forward to playing a part in 365’s organic expansion and potential mergers and acquisitions, as opportunities arise.”