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Bringing you news, views and analysis since 2013
Announcement

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Fortress backs USD50m DigitalOcean credit facility

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DigitalOcean has secured a USD50 million credit facility from funds managed by global investment firm Fortress Investment Group LLC. 

This announcement comes on the heels of Netcraft’s report detailing DigitalOcean’s meteoric rise to the third largest hosting company in the world.

"This financing illustrates Fortress’s continuing interest in the data centre and cloud services industries. In our view, DigitalOcean is well positioned to succeed in the expanding cloud infrastructure sector," says Aaron Blanchette, Managing Director at Fortress Investment Group LLC. "We look forward to playing a part in DigitalOcean's organic expansion as they bring their cloud offerings to more international users."

This October was the company’s biggest month yet in terms of customer acquisition, with more than 26,000 new active users – a 57 percent increase from October 2013. “Each month this year we’ve seen an average of 20,000 new users deploying servers on our platform,” says Karl Alomar, COO of DigitalOcean. “A large line of credit makes sure we’re able to lease more equipment at more favorable rates and scale globally to keep up with international demand.”

This is exciting news for international customers who are not located near one of DigitalOcean’s current five locations (New York, San Francisco, Singapore, London and Amsterdam). It’s also promising for developers anxious to see the company continue to expand its feature set, as some of the capital will be invested in hiring top engineering talent.

“We plan to triple our employee count before the end of next year,” says Ben Uretsky, CEO of DigitalOcean. “With more engineering talent comes quicker feature releases. We are taking steps every day to become a more complete cloud solution, and we need the best engineering talent in the world to help get us there.”

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