Creator of Vultr announces $150M credit facility to expand cloud and bare metal platform
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Constant, the creator of the Vultr cloud computing and bare metal platform, announced the closing of a $150 million credit facility from J.P. Morgan and Bank of America last week.
This includes a $25 million uncommitted expansion option to accommodate future growth, and Constant will use the additional capital to expand its global footprint of automated cloud infrastructure to serve its rapidly-growing customer base.
“We are excited to be part of Constant’s growth and to support the company with this new credit facility,” said Melissa Smith, Head of Specialized Industries, Middle Marketing Banking at J.P. Morgan. “The independent cloud provider market is growing rapidly as developers around the world seek cost-effective alternatives to the large hyperscalers, representing a tremendous growth opportunity for Constant.”
Constant claims it has become one of the largest cloud computing platforms in the world without ever raising equity financing. The Vultr platform was launched in 2014 and was built by developers for developers.
More than 40 million cloud servers have been launched on the Vultr platform across nearly every country in the world.