California colocation services provider RagingWire has secured an additional funding for expansion of its data center inventory. The company announced Thursday new multi-year, low-interest credit facilities totaling US$75m.

RagingWire will use its new capital to fund ongoing construction of a new data center in the state's capital Sacramento, as well as potential new builds on other sites the company says it is currently considering.

Yatish Mishra, RagingWire president, CEO and one of its two founders, said the new capital comes with an attractive interest rate and demonstrates industry confidence in the company's operating model. "This financing supports our dynamic expansion strategy, avoids dilution, and results in a greater return on shareholder equity."

The company currently has a 220,000-sq-ft data center in Sacramento and is in the middle of building out another 250,000-sq-ft facility in the region. RagingWire says it has secured an anchor tenant for the data center that is under construction.

The provider expects to complete the new data center by April.