The last time we caught up with DC BLOX, the team had just closed a $15 million Series A round and was eyeing expansion of its modular data centers.
Since then, both the pandemic and the proliferation of data-focused companies across the country helped the Atlanta-based company grow.
Last week, DC BLOX secured $187 million in financing from Bain Capital Credit and existing investor Post Road Group.
The company will use the funds to refinance its existing credit facilities, add liquidity to the balance sheet, and increase data center capacity across the Southeast.
Bill Thomson, DC BLOX’s VP of Marketing and Product Management, told Hypepotamus that the “investors obviously have confidence in our strategy.” Thomson added that the team has found a unique niche as companies set up roots in smaller cities.
“We’re proving that the demand is there.” Companies in places like Birmingham, Chattanooga, and Huntsville have access to DC BLOX’s local colocation, cloud storage, and network & connectivity solutions. Thomson said that the pandemic forced companies to “reconsider strategies for how they house their core infrastructure,” which often means using an outsourcing facility like DC BLOX.
The Atlanta-based team raised a $37 million Series B round in 2018 and has since expanded to Birmingham, Chattanooga, and Huntsville.
On top of the $187 million funding news, DC BLOX broke ground on a new data center in Greenville, South Carolina at the end of March 2021.
The facility, set to open in Q4, will be the first multi-tenant data center in the state. “With the first Tier III-designed data center now under construction in South Carolina, businesses adopting digital transformation strategies are set to have access to the most reliable and interconnected facility in the State,” Mark Masi, Chief Operating Officer of DC BLOX, said in a statement. “Whether it’s a prime location, cloud storage, disaster recovery, or an expanded data center footprint, we are proud to bring this state-of-the-art data center campus to South Carolina. Now, even more companies can leverage reliable and efficient data center services and private, high-speed, low latency network access to cloud providers and applications at scale.”