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Wasabi Technologies Secures USD 250M to Scale ‘Affordable’ Cloud Storage for Enterprises

By ET Bureau - September 28, 2022 1 Mins Read


Wasabi Technologies, based in Boston, is getting ready to scale its technology offerings and presence across markets as the demand for cloud services continues to soar amid an accelerated digital transformation.

The provider of cloud storage has disclosed that it has raised USD 250 million in debt and series D equity funding. It intends to expand into additional vertical markets and regions, strengthen channel partnerships, and scale the company’s go-to-market team and strategies using the equity portion of the financing.

The debt segment’s funding will be used to expand the technology’s capabilities, including adding new features and industry-specific offerings. The company’s equity round was led by L2 Point Management and MGG Investment Group has extended the debt facility.

Read More: AWS rival Wasabi Technologies secures $250M to scale ‘affordable’ cloud storage

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