Wasabi Raises $250 Million at $1 Billion Valuation

Wasabi is a company that provides data cloud storage for businesses around the world at the fifth part of the cost of large hyper-scale providers or on-premises storage, with no complex tiering and no charges for egress. Wasabi service is used for data storage across a variety of industries such as energy and natural resources, professional sports, surveillance, finance, healthcare, etc.

The Series D investment round was led by L2 Point Management. Among other participants are Fidelity Management & Research Company, Forestay Capital, and Cedar Pine, an affiliate of Cerberus Capital Management. The money raised will be used for expansion in vertical markets and geographies, partnership enhancement, team scale, and global brand strategies.

Wasabi, Boston, the USA, was founded by David Friend and Jeff Flowers in 2015. Wasabi has 13 storage regions including recently opened London, Toronto, Frankfurt, Paris, Sydney, Osaka, and Singapore among others. “[The new regions] help us optimize our performance for customers and channel partners internationally who are dealing with specific concerns like data sovereignty and thus need their data to be stored close by. Having multiple data centers around the world also means that our customers experience very little latency,” David Friend. The company has 40 000 customer organizations in over 100 countries.

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