Cloud Storage Company Wasabi Raises $30 Million In Funding

Cloud Storage Company Wasabi Raises $30 Million In Funding 

by NeoTech Post

Wasabi, a provider of hot cloud storage for businesses, closed a $30 million financing round led by Forestay Capital, the technology innovation arm of Waypoint Capital, with participation from existing investors. 

Including the latest funding round, Wasabi has raised $110 million to date.

The company plans to use the new funds to expand its infrastructure and hot cloud storage service to Canada and additional markets in Europe, APAC, and Latin America through Managed Service Providers (MSPs) and other channel partners.  

In 2019, Wasabi reported 5x year-over-year revenue growth and tripled its customer base to nearly 15,000 organizations. “In just three years, Wasabi has harnessed the complex technology that powers its storage and builds a strong distribution channel in record time,” said Frederic Wohlwend, Managing Partner of Forestay Capital. “Technology decision-makers don’t want to be locked into a single cloud ecosystem – they want choice, and Wasabi is empowering them to choose limitless storage at an unbeatable price.”

Image Credit: Wasabi