DigitalOcean raises $50M more from Access Industries and a16z

DigitalOcean raises $50M more from Access Industries and a16z

Earlier today, DigitalOcean announced that it raised$50
million more from previous financiers Access Industries and Andreessen Horowitz. The capital comes after the SMB and
developer-focused cloud facilities business raised nine-figures worth of debt back in February. DigitalOcean is a large private company that generated income at a run rate of around$250 million towards […]
The company announced today that it has reached$300 million in yearly repeating earnings, or ARR. The new $50 million worths the company at $1.15 billion, implying it was worth $1.1 billion pre-money. TechCrunch desired to know why the company raised equity capital so quickly after it had included debt to its books. Spruill didn’t share numbers to validate or reject our rough math based on his company’s public profits milestones, however did inform TechCrunch that the business is “actively working on a number of efforts to accelerate our earnings development rate, “adding that these are internally dubbed “Grow Faster”efforts. The capital comes after the SMB and
developer-focused cloud infrastructure company raised nine-figures worth of debt back in February….