DigitalOcean Receives $37.2M Led by Andreessen Horowitz
March 07, 2014
DigitalOcean, a cloud hosting company, has raised $37.2 million of Series A funding at a reported $153 million valuation. The round was led by Andreessen Horowitz and included existing backers IA Ventures and CrunchFund. In conjunction with the transaction, Andreessen's Peter Levine will join the company's Board of Directors. DigitalOcean previously raised $3.4 million of seed funding (led by IA Ventures) at a $14.6 million valuation in August 2013.
DigitalOcean has stayed very busy for the past 15 months, launching 1 million virtual servers, processing 18 million events and opening new datacenter regions in San Francisco and Singapore. The company will use the fresh funds to purchase new servers and networking gear and grow its engineering team.