Wasabi Technologies Closes $140 Million Series D

Wasabi Technologies, a Boston, MA-based hot cloud storage company, raised $15M to close a $140M Series D funding.

The round was joined by Azura, SiS Cloud Global Tech Fund 8, and Prosperity7 Ventures. Along with its existing debt facility, wasabi has now raised over $500M to date, most recently on a $1.1B valuation. Following $125M in equity closed in September 2022, the additional funding brings Wasabi’s Series D to $140M.

The company intends to use the funds to accelerate cloud storage on a global scale.

Founded by David Friend and Jeff Flowers, Wasabi provides hot cloud storage for businesses all over the world. It enables organizations to store and access an unlimited amount of data with no complex tiers or unpredictable egress fees. The company also recently released Cloud Sync Manager which allows customers to migrate their data out of expensive hyperscale environments directly to Wasabi. Wasabi is now used 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.