Compass Data Center achieves Funding milestone, $45 mil for first round

Compass Data Centers in trying to be different than the rest, and part of building something different takes money.  Today, Compass Data Centers announced funding.

Compass Datacenters Completes First Major Round if Funding


For Immediate Release

$45 Million Dollar Credit Facility is Expandable to $100 Million; Will Finance Data Center Construction Projects Across United States

Dallas – September 4, 2012 – Compass Datacenters has completed its first major round of financial funding: a $45 million credit facility with an accordion feature up to $100 million from KeyCorp’s commercial finance unit, KeyBank, NA. This is the company’s first formal round of funding since the company began operations earlier this year, and it will be used to finance its aggressive growth plan over the coming months.

Compass convinced its financier that its business model will work.

“Compass Datacenters is pioneering a major area of growth for the data center industry by offering wholesale standalone data center products that meet the needs of companies that are in geographic areas that are not well served by traditional providers. They have assembled a strong management team comprised of executives with proven track records in data centers and real estate development. Their wholesale business model and proprietary design architecture have the company positioned to be the leader in this growth market,” said John Murphy, Managing Director of Real Estate Capital at KeyBank.

Next step is to see data centers build by Compass which should happen quickly with a modular design.