DC BLOX raises $37 million to fuel construction of Edge data centers across the Southeast
ATLANTA, May 16, 2018 /PRNewswire/ -- DC BLOX, a leading provider of connected Edge data centers and cloud services, announced today that it has secured $37 million in new equity and debt funding, completing its Series B financing for a total capitalization of more than $53 million. DC BLOX plans to use the proceeds to build three additional data centers in potential markets including Birmingham, Ala., Greensboro/Winston-Salem, N.C., and Greenville, S.C.
"This latest round of funding reflects the confidence our investors have in our strategy to deploy Edge data centers in underserved markets that support the needs of enterprise businesses, government entities, content providers and managed service providers in the Southeastern United States," said Jeff Uphues, DC BLOX CEO. "With our core leadership team now in place, we are well on our way to meeting an aggressive expansion plan through 2019."
The new funding will allow DC BLOX to accelerate product development, acquire talent and build infrastructure required to stay ahead of the growing technology needs of a rapidly expanding customer base. The more than $53 million capitalization includes new equity investments from Series A partners and the DC BLOX management team with debt financing provided by Metropolitan Partners Group.
"We are excited to be working with the DC BLOX management and investor team," said John Ioannou, President of Metropolitan Partners Group. "Our commitment to fund the company's expansion plan is fueled by a comelling customer value proposition and a leadership team with a track record of success in this industry."
Less than a year after opening its data center in Chattanooga, Tenn., DC BLOX expects to open two new data centers, representing at least three megawatts of critical power by the end of 2018. A new data center in Huntsville, Ala., is already under construction. Each data center is interconnected with DC BLOX's high-speed, fiber-optic network, which enables a variety of use cases, including business continuity, disaster recovery, content delivery, IoT and mobile applications.
For more information, please visit www.dcblox.com or call 877-589-1684.
About DC BLOX
DC BLOX builds Tier 3 data centers in underserved markets in the Southeastern United States, connects them with a high-speed optical network, and hosts cloud services to enable area businesses to effectively serve their local customers, efficiently scale their infrastructure, and ensure business continuity. Current DC BLOX data center locations are in Atlanta and Chattanooga, Tenn. while its newest data center is under construction in Huntsville, Ala.
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About Metropolitan Partners Group
Metropolitan Partners Group ("Metropolitan") is a direct lending firm with approximately $275 million in assets under management. The firm provides capital solutions to small and mid-sized U.S. businesses that require financing to grow and achieve the next level of success. Metropolitan is often the first institutional capital partner and uses its in-house business operating experience to help companies deliver on their business objectives. Since its inception, Metropolitan has deployed more than $550 million of capital and completed more than 55 transactions with companies across a number of business sectors, including data centers, specialty finance, local infrastructure, telecom, heavy equipment, niche manufacturing and automation. For more information, please visit: www.metpg.com.
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