Cloud Provider DigitalOcean Receives $83 Million in Investment

July 9, 2015
Cloud Provider DigitalOcean Receives $83 Million in Investment
New York-based cloud provider and Virtual Private Servers (VPS) specialist DigitalOcean has received an $83 million investment via Andreessen Horowitz and New York-based Access Industries - a US company which is led by Len Blavatnik and has previously invested in companies like Alibaba, Pinterest, Spotify and Uber. The latest Series B investment brings the company's total funding to date to around $170 million. The money will be used to employ more team members and increase its product range.

DigitalOcean is the world's second-largest web hosting provider with 500,000 users utilizing its cloud servers. The company was established in 2012 with a vision of simplifying infrastructure to enable developers to "build, deploy, and scale web applications". Its latest funding comes on the heels of 2014's Series A funding which raised raising $37.2 million and a $50 million credit facility from Fortress Investment Group LLC in December 2014.

“We are laser­focused on empowering the developer community,” explained DigitalOcean's CMO and co­-founder Mitch Wainer. “This capital infusion enables us to expand our world-class engineering team so we can continue to offer the best infrastructure experience in the industry.”

“We began with a vision to simplify infrastructure that will change how millions of developers build, deploy and scale web applications,” explained Ben Uretsky, the company's other co-founder and CEO. “Our investors share our vision, and they’ll be essential partners in our continued growth.”

Do you know of any other companies that have receive investment recently. Let us know the details. Add your comments below.



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