An Update on the DigitalOcean Business

Yancey Spruill, CEO of DigitalOcean, is pleased to announce that the company has closed on a $300 million bank debt financing, increasing its capital available for investment in building a business that supports developers, entrepreneurs, and small businesses globally. This funding, including $100 million from new lenders, fully funds the business to profitability and sets a goal of reaching over $1 billion in revenue within five years. The company's focus on creating simple solutions for developers has expanded to include entrepreneurs and small and mid-sized businesses, supporting a community of more than four million developers and an active customer base of over 500,000 businesses. With this funding, DigitalOcean plans to continue scaling its business while delivering features, education, and support at an affordable price point, growing smarter and together with its customers to unite the community and tackle tough problems. The company thanks its customers and partners for trusting them to help build their businesses and realize their dreams.

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