DigitalOcean, a cloud computing platform, secured a $130 million credit facility. KeyBanc Capital Markets served as joint lead arranger and joint bookrunner for the transaction.
KeyBank was administrative agent and a lender. The other banks participating in the deal include Barclays, Pacific Western, East West Bank, Opus Bank, Webster Bank and HSBC USA.
“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, DigitalOcean CFO.
The company plans to utilize these credit facilities to purchase equipment in order to continue its global expansion and support increasing demand.
New York-based DigitalOcean is a cloud computing platform built for software developers.