Cloud storage company, Wasabi announced $112 million in Series C funding led by Fidelity Management & Research Company with participation from existing investors. The latest round brings the company’s total equity financing to $219 million.
22,000 customers worldwide
According to the announcement, the company’s revenue and storage under management have tripled in the last year with deployed storage recently passing one exabyte. Wasabi has 22,000 customers worldwide, and Wasabi’s channel network more than doubled to over 5,000 partners worldwide.
Wasabi, which has data centers in the US, Europe, and Japan, stated that the funding will be used to expand its network of resellers, technology alliance partners, and distributors, open data centers in new international markets, and to grow its internal team across all fronts including development, sales, support, marketing, administration, and operations. The company also aims to make further investments in building its brand internationally and providing additional marketing support for its channel partners. David Friend, CEO & Co-Founder, Wasabi, said,
“This new funding is a watershed event for Wasabi. With revenues tripling for each of the last 3 years and over $100M of new investment led by one of the world’s largest and most prestigious financial institutions, our customers will know that their data is in the hands of a reliable, fast-growing company with the substantial resources to meet their growing needs. Storing the world’s data in the cloud is one of the biggest opportunities in the IT industry, and we are now well-positioned to secure a leadership role in the evolution of the cloud. We will continue to invest in our proprietary software, grow our channel, enhance our brand and expand storage capacity around the world.”