DC Blox raises $37 million to build new data centres
DC Blox has raised another $37 million to finance investment into the construction of three new data centres in the southeast US region.
The company has so far raised $53 million for its expansion plan which includes the establishment of a data centre in Birmingham, Alabama, another one in Greensboro, North Carolina, and the third one in Greenville, South Carolina.
Jeff Uphues, DC Blox CEO, says: “This latest round of funding reflects the confidence our investors have in our strategy to deploy edge data centres in under-served markets that support the needs of enterprise businesses, government entities, content providers and managed service providers in the Southeastern United States. With our core leadership team now in place, we are well on our way to meeting an aggressive expansion plan through 2019.”
DC Blox says the new funding will allow it to accelerate product development, acquire talent and build the infrastructure required to “stay ahead of the growing technology needs of a rapidly expanding customer base”.
The multimillion-dollar capitalisation includes new equity investments from earlier partners and the DC Blox management team with debt financing provided by Metropolitan Partners Group.
John Ioannou, president of Metropolitan Partners Group, says: “We are excited to be working with the DC Blox management and investor team. Our commitment to fund the company's expansion plan is fueled by a compelling customer value proposition and a leadership team with a track record of success in this industry.”
DC Blox opened a data centre in Chattanooga, Tennessee, less than a year ago. The company says the two new data centres represent “at least three megawatts of critical power by the end of 2018”. Additionally, a new data centre in Huntsville, Alabama, is currently under construction.
Each data centre is interconnected with DC Blox's high-speed, fibre-optic network, which enables a variety of use cases, including business continuity, disaster recovery, content delivery, internet of things and mobile applications.