Compass Datacenters, a Dallas-based data center company founded in 2011, has completed a new round of capital raising to support the company’s expansion into additional geographic markets and to fund new data center construction projects for customers.
The additional equity is provided by the original investors from Compass’ prior round of funding, and the additional capacity under the revolving line of credit has been provided through a syndication of the credit facility by KeyBank, NA, bringing Regions Bank and Raymond James into the facility. The revolving line of credit maintains an accordion option allowing the credit facility to be upsized at a later date by an additional $40 million for a total of $150 million.
Data center model
“This funding provides Compass Datacenters with the resources to bring our proven data center model to more customers and more geographic regions, which will drive the next stage of Compass’ growth,” said Chris Crosby, CEO of Compass Datacenters who formerly served as Senior Vice President (SVP) of Digital Realty Trust. “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 data center facility design, the effectiveness of our construction methodology, and our ability to deliver on our six month construction timeline.