DataBank

DataBank offers a range of cloud and connectivity services, as well as data center colocation services for the edge.

DataBank's edge strategy involves three key components: Metro/Hyperscale Edge with 65+ data centers in major metros, Interconnect Edge with 20 major interconnect locations, and Mobile/Low-Latency Edge with modular data centers for mobile networks and latency-sensitive applications near end-users. The data centers also include embedded security solutions for data protection, managed security, and compliance. DataBank generated around USD 180 million in revenue in 2019.

The company has also used acquisitions and investments as a means of expanding its business. Since 2014, DataBank has acquired more than five companies involved in providing edge data centers and cloud services. In December 2020, it acquired zColo data centers in the US and the UK from Zayo Group Holdings (and subsequently migrated customers of the zColo data centers in February 2022).

In January 2022, DataBank purchased four data centers in Houston from CyrusOne for USD 670 million. The four data centers added over 300,000 square feet (sq ft) of raised-floor data center capacity (bringing its total to around 2 million sq ft) and 42.5 MW of critical IT load. In March 2022, DataBank expanded the capacity of its SAN1 data center in San Diego by 40,000 sq ft, thereby tripling its total capacity.

DataBank announced plans for a significant expansion in 2023, including the purchase of 85 acres for a new data center campus in Northern Virginia, the acquisition of 100 acres of land in Atlanta for a new data center campus, and the groundbreaking of its ATL4 data center in Atalanta featuring a 200,000 sq ft colocation facility. Moreover, DataBank completed the expansion of seven data centers in various locations, adding 15+ megawatts of power and 114,000 sq ft of floor space in 2023.

In April 2024, DataBank acquired the LAS1 Edge data center in Las Vegas, Nevada, supporting its strategy of owning the largest Edge data center footprint in the US. This data center features 36,800 raised sq ft, 3.55 MW of critical IT load power, and access to five on-site carriers. It is also equipped with fiber and has redundant entry paths to achieve optimal connectivity and reliability.

Funding and financials

In April 2023, DataBank raised USD 350 million in debt funding led by TD Securities. This round included a USD 175 million, five-year term loan, a USD 125 million delayed draw term loan (DDTL), and a USD 50 million revolving credit line. The company earmarked the funding to support the expansion of its edge data center footprint — specifically, for general working capital and success-based capex expenditures related to the deployment of new and expanded data center capacity at its campuses in Salt Lake City, Denver, Atlanta, and New York.

In September 2023 the company announced a 56% YoY increase in Adjusted EBITDA driven by record leasing from Enterprise, Hyperscale Cloud, and AI workloads. The company exceeded its full-year sales and EBITDA target for 2023 by the end of Q2.

In April 2024, DataBank secured a credit facility worth USD 725 million. This financing arrangement, led by TD Securities, involved 14 digital infrastructure banks. The company intended to use this funding to fast-track construction projects across various US cities and expand its data center infrastructure.