Managed hosting specialist DataPipe has secured $75 million in combined credit and equity financing led by Goldman Sachs. DataPipe will use the money to immediately begin an expansion of its Somerset, New Jersey data center campus, which has room for another 60,000 square feet of space. DataPipe is also pursuing significant expansion opportunities in London and China, according to founder and CEO Robb Allen.
"We're very pleased to be fully funded for future growth," said Allen. "This funding will enable us to expand our data center facilities and enhance our service offerings globally. It's great news for our clients."
"We've been impressed with DataPipe's expertise in the managed hosting market and look forward to pursuing additional growth opportunities in partnership with Robb and the DataPipe management team," said Gene Yoon of Goldman Sachs.
DH Capital, LLC served as financial advisor to DataPipe on the transaction.
DataPipe is based in Jersey City, NJ, and provides managed services to enterprise companies, with many customers in the financial services and pharmaceutical industries. The company has more than 1,500 customers in six data centers and eight office locations in the United States, the United Kingdom, and China.