DigitalOcean, an American cloud infrastructure provider headquartered in New York City, has raised $50M in Series C funding round led by Access Industries, that saw participation from Andreessen Horowitz (a16z). DigitalOcean’s equity evaluation now stands at $1.15 billion, thus making it a unicorn.
DigitalOcean has over 500,000 customers globally and also has a datacenter in Bengaluru. Nearly two-thirds of the customers are located outside the U.S. DigitalOcean mainly caters to developers, entrepreneurs and small businesses. Some of its Indian clients include Rapido, Zerodha, NoBroker and OYO. Its infrastructure and platform-as-a-service (IaaS and PaaS) solutions provide a “no DevOps required” experience, allowing developers to focus on creating innovative software.
DigitalOcean CEO Yancey Spruill says that the firm has seen increased demand during the ongoing COVID-19 pandemic as businesses are transitioning to the cloud.
