What is Wasabi?
Wasabi operates as a specialized provider of hot cloud storage, distinguishing itself through a business model that prioritizes speed, reliability, and aggressive pricing. By stripping away the complexity and hidden costs often associated with legacy cloud storage providers, Wasabi has carved out a significant niche among enterprises requiring scalable, secure, and accessible data repositories. The company's platform is engineered to support modern analytics, DevOps workflows, and mission-critical production environments, positioning it as a foundational element in the multi-cloud ecosystem. Its market position is reinforced by a focus on simplicity and performance, allowing organizations to manage massive datasets without the prohibitive costs typically found in the broader cloud storage market.
How much funding has Wasabi raised?
Wasabi has raised a total of $1.3B across 8 funding rounds:
Series A
$85M
Unspecified
$10.8M
Series B
$68M
Unspecified
$30M
Debt
$27.5M
Series C
$137M
Private Equity
$700M
Debt
$250M
Series A (2016): $85M, investors not publicly disclosed
Unspecified (2017): $10.8M led by CloudScale Capital Partners, LLC
Series B (2018): $68M supported by Forestay Capital
Unspecified (2020): $30M featuring Forestay Capital
Debt (2021): $27.5M backed by MGG Investment Group
Series C (2021): $137M with participation from Fidelity Management & Research Company, Western Digital, and Prosperity7 Ventures
Private Equity (2026): $700M led by Fidelity Investments, L2 Point, and Pure Storage
Debt (2026): $250M supported by Bain Capital Private Credit, Aksia, and Energy Impact Partners
Key Investors in Wasabi
Fidelity Investments
Fidelity Investments is a financial services company that provides a broad range of investment, wealth management, retirement planning, brokerage, and advisory solutions for individual investors, businesses, employers, and institutions.
L2 Point
L2 Point is a San Francisco based investment firm that specializes in providing innovative capital solutions for growth companies, focusing on the gap between dilutive equity and restrictive debt.
Pure Storage
Pure Storage is an all-flash data storage and software manufacturer that enables SaaS companies and cloud service providers to deliver real-time, secure data for modern analytics environments.
What's next for Wasabi?
With the successful closure of this major strategic investment, Wasabi is well-positioned to accelerate its product roadmap and expand its global footprint. The company is expected to leverage this capital to deepen its technological moat, potentially integrating more advanced data management features and expanding its data center presence to meet rising demand. As the enterprise sector continues to grapple with exponential data growth, Wasabi's focus on cost-efficient, high-performance storage will likely remain a key driver of its long-term value proposition. Future strategic initiatives will likely center on strengthening its partner ecosystem and enhancing its service offerings to maintain its competitive edge against larger, incumbent cloud service providers.
See full Wasabi company page
