Wasabi Technologies, a Boston-based cloud storage company, announced that it has closed $15 million in a Series D funding round from Azura, SiS Cloud Global Tech Fund 8, and existing investors, including Prosperity7 Ventures.
The announcement comes a couple of months after the hot cloud storage firm became a unicorn after raising $125 million in September. The latest fund brings Wasabi’s Series D to $140 million. In total, the company has raised $500 million at a $1.1B valuation.
Cloud storage pioneer
Founded by Carbonite co-founders and cloud storage pioneers David Friend and Jeff Flowers, Wasabi provides fast, affordable, and reliable cloud storage for businesses worldwide at 1/5th the competition’s price.
Wasabi 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.
Currently, the company has 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.
Wasabi claims its revenue has doubled year over year, leading Deloitte to rank Wasabi on its Fast500 list of the fastest-growing technology companies in North America.
“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,” says Michael Bayer, chief financial officer, Wasabi Technologies.
He adds, “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.”
