News Column

United States : DigitalOcean bags $10 MILLION Equipment funding from CapX Partners

July 10, 2014

DigitalOcean declared that it has obtained $10 million in equipment financing from CapX Partners.

Earlier in 2013, CapX invested $3.2 million seed round of DigitalOcean.

Peter W. Washington, Vice President of CapX Partners stated, CapX was impressed with the company s product offering, customer growth, and the trend for small business to move IT needs to the cloud. DigitalOcean s impressive management team and support from its lead investor, Andreessen Horowitz, convinced CapX to step up its financial commitment to the business. We look forward to growing our relationship with both DigitalOcean and Andreessen Horowitz.

CapX is providing a meaningful contribution towards our overall syndicated leasing structure and remains one of our key partners in this regard, said DigitalOcean COO Karl Alomar.

In the process of working with the company, it has helped Digital Ocean to draw down incremental tranches of capital to better match the company s scaled financing needs, said CapX, This Lease Line of Credit structure is meant to help the company manage its capital efficiently during the new shareholder s investment period.

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Source: TendersInfo (India)

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