New investment to drive Wasabi’s global expansion as it meets infinite data storage demands of $90B public cloud storage market
Wasabi, the hot cloud storage company, today announced it has closed a $30 million financing round led by Forestay Capital, the technology innovation arm of Waypoint Capital, with participation from Wasabi’s previous investors. With today’s round, Wasabi has raised a total of $110 million.
Customers and partners are emphatically choosing Wasabi’s high performance and predictable, budget-friendly pricing models over cloud storage solutions from Amazon S3 and other first generation cloud providers. During this accelerated global migration to the cloud, the amount of new data Wasabi stores has grown by 4x over the same period last year. In 2019, Wasabi experienced 5x year-over-year revenue growth and tripled its customer base to nearly 15,000 organizations. Wasabi also grew its channel program to more than 2,300 partners during the program’s first 12 months.
The funding will be used primarily to expand Wasabi’s infrastructure and capacity to meet growing global demand for storage in the $90 billion public cloud storage market. Wasabi plans to extend its hot cloud storage service to Canada and additional markets in Europe, APAC and Latin America through Managed Service Providers (MSPs) and other channel partners.
Read the full article here: https://wasabi.com/press-releases/wasabi-builds-explosive-growth-30-million-funding-round/
Categories: Storage Virtualization