Wasabi Technologies, the hot cloud storage company, completed its Series D round with an additional $15m in new equity headlined by Azura, SiS Cloud Global Tech Fund 8, and existing investors including Prosperity7 Ventures. Following $125m in equity closed in September 2022, the funding brings Wasabi’s Series D to $140m. Along with its existing debt facility, the company has now raised over $500m to date, most recently on a $1.1B valuation.
What is the market offering of Wasabi?
Wasabi provides fast, affordable, and highly reliable cloud data storage for businesses all over the world at 1/5th the cost of large hyperscale providers or on-premises storage, with no charges for egress or API requests and no complex tiering. The firm recently released Cloud Sync Manager which allows customers to migrate their data out of expensive hyperscale environments like Amazon Web Services directly to Wasabi for pennies on the dollar.
These cost savings on cloud storage are important for organizations looking to stabilize monthly spending and withstand economic uncertainties that the world is currently facing.
Wasabi Technologies is now trusted by over 40,000 customers, including the Boston Red Sox and Liverpool Football Club, and has 250+ global employees and 13 storage regions across North America, Europe, and Asia Pacific (APAC). Its partner ecosystem of 14,000 boasts most of the world’s leading backup, disaster recovery, and surveillance companies.
Meanwhile, the company’s revenue has doubled year over year, leading Deloitte to rank Wasabi on its Fast500 list of the fastest growing technology companies in North America.
What does the funding mean for Wasabi?
“Even in an environment of economic uncertainty with pressure to reduce expenses, investing in data and data storage remains a necessity,” said Michael Bayer, CFO at Wasabi.
“Data is the life blood for any organization, and a simple, secure and affordable solution is a game changer. Wasabi cloud storage is an attractive proposition for our customers because we save them money and for investors because we are growing rapidly. This expansion of our Series D round confirms the value we are delivering,” Michael Bayer further commented.
To learn more about how Wasabi is storing the world’s data, visit wasabi.com.
