Investegate |Wasabi Technologies Announcements | Wasabi Technologies: Hot Cloud Storage Provider Wasabi Fuels Continued Growth with $27.5 Million Funding Round
Summary
The new funding will be used to bolster the company’s infrastructure, including constructing additional data centers in new geographies, to meet accelerating global demand for Wasabi’s affordable, predictable and simple cloud storage solutions. In 2020, the company’s total storage expanded 150%, annual revenues grew by more than 3 times over 2019, and the customer base increased to more than 21,000 businesses, educational institutions, municipalities and technology service providers worldwide. “MGG distinguished itself due to the firm’s successful track record of partnering with companies to build enduring value as well as the team’s understanding of our business model and growth potential. Created by Carbonite co-founders and cloud storage pioneers David Friend and Jeff Flowers, Wasabi has secured $140 million in funding to date and is a privately held company based in Boston. MGG works with owners and management teams to help build lasting value, address immediate needs, and solve complex situations while generating attractive risk-adjusted returns for investors irrespective of and through market cycles.
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