Donuts Inc., the applicant for the largest number of new gTLD strings, announced tonight that is has closed on “Series B equity investment which was “oversubscribed” and which “nearly doubles our capacity to compete”.
The investment round was “led by existing investor Generation Partners, at twice the valuation of the initial Series A round, as well as additional financing from Columbia Partners Private Capital, the latter complementing the company’s existing senior line from Comerica Bank. ”
“Specific terms of the deals were not disclosed.”
“The added funding follows last June’s announcement that Donuts had secured initial funding of more than $100 million from multi-billion dollar venture capital and private equity funds and a top-tier bank.”
“Donuts CEO and co-founder Paul Stahura said:
The additional capital is targeted toward securing new gTLDs in the coming months, when applicants are slated to resolve “contention sets,” an industry term for multiple applications for the same gTLD.
“We intended from the beginning to secure the gTLDs for which we applied,”
“We enjoy tremendous support from our stockholders and lenders. ”
Our investors believe as strongly as we do that new gTLDs will bring relevance and specificity to registrants who have few usable choices today for Internet identities. ”
Stahura confirmed that Donuts has further access to additional capital should the need arise.
