Wasabi Technologies, a cloud storage startup based in Boston, has raised $15 million in a Series D fundraising round making a total of $140 million in a Series D round.

The startup has raised a total of $500 million at a valuation of $1.1 billion. The news was made a few months after Wasabi Technologies raises $125 million in September, and had become a unicorn.

The round was backed by investors such as Prosperity7 Ventures, SiS Cloud Global Tech Fund 8, and Azura.

Wasabi offers quick, inexpensive, and dependable cloud storage for companies all over the world at a fraction of the cost of the competition. It was founded by David Friend and Jeff Flowers, co-founders of Carbonite and pioneers in the field of cloud storage.

Wasabi recently introduced Cloud Sync Manager, enabling clients to move their data for pennies on the dollar from pricey hyper-scale environments like AWS to Wasabi.

Wasabi asserts that its annual revenue has doubled, earning it a spot on Deloitte’s list of the 500 fastest-growing technology businesses in North America.

With over 13 storage regions spread across North America, Europe, and Asia Pacific, the company currently serves over 40,000 clients, including the Boston Red Sox and Liverpool Football Club.

“Investing in data and data storage remains essential, even in a time of economic uncertainty and pressure to cut costs. A straightforward, safe, and economical solution is a game-changer since data is the lifeblood of every firm, according to Michael Bayer, the CFO of Wasabi Technologies.

Wasabi cloud storage is a compelling offering for both our clients because we help them save money and for investors because we are expanding quickly, he continues. This Series D round’s expansion demonstrates the value we are providing.

Image Credit: Wasabi Technologies


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