# Wasabi Technologies

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/wasabi-technologies

- Industry: Software
- Headquarters: Boston, US
- Website: www.wasabi.com
- Total disclosed funding: $373M
- Latest round: Series D (Dec 7, 2022)
- Investors on record: 10

## About

Wasabi Technologies LLC is a US-based company that provides a high-performance cloud storage platform, focusing on simplicity and affordability for organizations needing efficient data storage solutions.Wasabi Technologies, Inc. was founded in 2017 in Boston, US, and specializes in cloud storage services. The company was co-founded by Jeff Flowers, who has a history in technology ventures.Wasabi Technologies specializes in providing a cloud storage platform that emphasizes performance, simplicity, and affordability. The company's primary offering is its single-tier universal cloud object storage, designed to cater to organizations needing reliable and efficient data storage solutions. This service eliminates traditional egress and API request fees, making it attractive for businesses looking to manage large volumes of data without incurring unexpected costs. Wasabi's platform has been adopted by a wide array of customers, including prominent organizations such as the Boston Red Sox, who leverage the service for storing extensive video data and analytics. The solution is deployed across multiple global regions, including North America, Europe, the Middle East, and Asia-Pacific, allowing clients to access their data securely and efficiently from anywhere.Wasabi's revenue model is primarily based on a pay-as-you-go pricing structure, allowing clients to pay only for the storage space they utilize. The company caters to various market segments, providing services to businesses ranging from small enterprises to large corporations. Clients typically engage with Wasabi under subscription agreements, choosing from various plans that can include Reserved Capacity Storage for long-term commitments. These agreements allow users to benefit from reduced rates for committing to 1, 3, or 5-year increments. The absence of hidden fees and the straightforward pricing model are key aspects that enhance customer satisfaction and encourage long-term partnerships. In January 2026, Wasabi Technologies LLC raised USD 70 million in venture funding led by investor L2 Point, with participation from Fidelity Investments and Pure Storage, Inc. The funding will be utilized to to accelerate expansion into AI infrastructure, broaden its global footprint, and enhance its product portfolio. The company plans to expand its offerings and is focused on developing new products to enhance its cloud storage capabilities. It is also targeting new geographic markets for expansion, although specific regions have not been disclosed.

## Funding rounds

- Series D, Dec 7, 2022, $15M — Aramco Ventures, SiS Asset Management, Azura Partners US
- Series D, Sep 9, 2022, $125M — Cerberus Capital Management, Fidelity Investments, Alumni Ventures Group, Forestay Capital, L2 Point
- Series C, May 20, 2021, $25M — Western Digital Capital, Aramco Ventures
- Series C, Apr 29, 2021, $112M — Fidelity Investments
- Series B, Apr 15, 2020, $28M — Alumni Ventures Group, Forestay Capital
- Series B, Sep 12, 2018, $68M — Forestay Capital
- Series A, Aug 1, 2017 — Brightstone Venture Capital

## Investors

- Brightstone Venture Capital (https://capitalatlas.ai/funds/brightstone-venture-capital) — Series A
- Forestay Capital (https://capitalatlas.ai/funds/forestay-capital) — Series B, Series D
- Alumni Ventures Group (https://capitalatlas.ai/funds/alumni-ventures-group) — Series B, Series D
- Fidelity Investments (https://capitalatlas.ai/funds/fidelity-investments) — Series C, Series D
- Western Digital Capital (https://capitalatlas.ai/funds/western-digital-capital) — Series C
- Aramco Ventures (https://capitalatlas.ai/funds/aramco-ventures) — Series C, Series D
- Cerberus Capital Management (https://capitalatlas.ai/funds/cerberus-capital-management) — Series D
- L2 Point (https://capitalatlas.ai/funds/l2-point) — Series D
- SiS Asset Management (https://capitalatlas.ai/funds/sis-asset-management) — Series D
- Azura Partners US — Series D