US-based cloud infrastructure company DigitalOcean closed an $83m series B round on Wednesday led by diversified conglomerate Access Industries that also included venture capital firm Andreessen Horowitz.
Founded in 2012, DigitalOcean supplies cloud infrastructure technology for developers to build websites and applications. More than six million cloud servers have been deployed on DigitalOcean by a total of more than 500,000 developers.
DigitalOcean is in the process of expanding the platform’s feature set, and the funding will support the hiring of additional staff for its engineering team.
The round took DigitalOcean’s overall debt and equity financing to approximately $213m. It raised $37.2m from Andreessen Horowitz, IA Ventures and CrunchFund in March 2014 at a $153m valuation before securing $50m in debt financing from Fortress Investment Group in December.
IA Ventures had already led the company’s $3.2m seed round in 2013, which also included CrunchFund and TechStars.
Pueo Keffer, head of venture capital at Access Industries, said: “Technology represents the foundation on which today’s greatest companies are built.
“DigitalOcean is uniquely positioned to grow with the developer community, which creates and maintains this very foundation.”