Series D total of $140M allows Wasabi to accelerate affordable cloud storage on a global scale
Wasabi Technologies, the hot cloud storage company, today completed its Series D funding round with an additional $15 million 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 additional funding brings Wasabi’s Series D to $140 million. Along with its existing debt facility, the company has now raised over $500M to date, most recently on a $1.1B valuation.
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 company also recently released Cloud Sync Manager which allows customers to migrate their data out of expensive hyperscale environments like AWS directly to Wasabi for pennies on the dollar. These cost savings on cloud storage are critical for organizations looking to stabilize monthly spending and withstand economic uncertainties that the world is currently facing.
“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.”
“Even in an environment of economic uncertainty with pressure to reduce expenses, investing in data and data storage remains a necessity. Data is the life blood for any organization, and a simple, secure and affordable solution is a game changer,” said Michael Bayer, chief financial officer, Wasabi Technologies. “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.”
Wasabi 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. 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.