Compass Datacenters has completed its $100m round of funding to support its expansion into additional markets and to fund new data center construction projects for its customers.
The new funding consists of $34m in additional equity commitments and $65m in additional capacity under Compass’s now $110m revolving credit facility.
The additional equity is provided by the original investors from Compass’s prior funding round, and the capacity under the revolving line of credit has been approved through a syndication of the credit facility by KeyBank, NA, bringing Regions Bank and Raymond James into the facility.
Compass’s revolving line of credit maintains and option allowing the credit facility to be upsized at a later date by an additional $40m for a total of $150m.
Compass Datacenters’s CEO Chris Crosby said the funding will provide the company with resources to bring its proven model to more customers and more locations.
“Our successful projects in markets such as North Carolina, Tennessee, Minnesota and Massachusetts have demonstrated the value proposition of our unique solution for customers, and those projects have also affirmed the quality of our facility design, the effectiveness of our construction methodology, and our ability to deliver on our six month construction timeline,” Crosby said.