DigitalOcean Acquires Paperspace For $111 Million In Cash – AlleyWatch

paper spaceAcquired cloud machine learning, AI, and FPU infrastructure platforms. digital ocean, Paid $111 million in cash to a cloud service provider. “DigitalOcean is known for simplifying complex cloud technologies and making them more accessible to both developers and businesses,” said Mr. Dillon Erb, Co-founder and CEO of Paperspace. “For both developers and businesses, he believes there is no better company to unlock the limitless potential of AI/ML, so he is thrilled to partner with DigitalOcean.”
DigitalOcean is renowned for making complex cloud technologies simple and accessible for developers and businesses alike.

We are excited to partner with DigitalOcean because we believe there is no better company to unlock the endless possibilities of AI/ML for both developers and enterprises. – Dillon Erb

Founded in 2014 Daniel Cobran And Erb, Paperspace have raised a total of $35 million in reported equity funding. Investors in the company include: Y Combinator, Intel Capital, Battery Ventures, Initialized Capital, DCVC, Ludlow Ventures, Zillionize, Amino Capital, QueensBridge Venture Partners, Fusion Fund, Transmedia Capital, Sorenson Capital, Rocketship.vc, InnoSpring Seed Fund, SineWave Ventures, and center electric.

“We are excited to expand our portfolio to suit SMBs and startups globally with our simplified AI/ML services.” Yancy Spruill, CEO of DigitalOcean. “This acquisition marks an important milestone in DigitalOcean’s commitment to revolutionize how small businesses and start-ups leverage the power of the cloud and AI/ML for their applications and businesses. Instead of focusing on infrastructure, customers can focus on building applications and growing their business.”

We are excited to expand our portfolio to suit small businesses and startups globally with our simplified AI/ML services. This acquisition marks an important milestone in DigitalOcean’s efforts to revolutionize how SMBs and start-ups leverage the power of the cloud and AI/ML for their applications and businesses. Together, these services enable customers to focus on building applications and growing their business instead of focusing on infrastructure. – Yancy Spruill

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