Tag - Wasabi

With VC Funding Down 53%, Wasabi Technologies Defies The Odds — Raising $250 Million

It’s hard for startups to raise money these days. So when a startup raised a quarter of a billion dollars last month, it got my attention. Such odds-defying startups offer valuable lessons for all startup CEOs. This comes to mind in considering the news that Boston-based cloud storage company, Wasabi Technologies, closed a $250 million round of funding last month at a $1.1 billion valuation, according to a company press release. Read more >>
Read more...

Wasabi CEO David Friend: $250M Funding To Double Channel Reach, Fuel Global Expansion

Boston-based cloud storage company Wasabi Technologies this week said it has raised an additional $250 million in funding, half of which came from private equity and other institutional investors and half from debt, and said the company now has a valuation of over $1.1 billion. The new funding represents a big bet on Wasabi, which is using its large channel and alliance partner base to compete against cloud giants like Amazon Web Services by promising to provide cloud storage for...
Read more...

Wasabi Technologies Reaches Unicorn Status

Boston, MA September 27th, 2022, Boston Harbor Angels (BHA) is pleased to announce that Wasabi Technologies, one of its portfolio companies, has reached Unicorn status with the close of $250M round of investment. “We are very happy for Wasabi Technologies, investors and Wasabi employees,” says Ziad Moukheiber, President and CEO of Boston Harbor Angels.  “David Friend, Founder and CEO of Wasabi Technologies is an exceptional entrepreneur. BHA is thrilled to have been part of this journey from the beginning and we...
Read more...

After dry spell, Boston has a new unicorn

Boston finally has a new unicorn after a nearly three-month dry spell for companies crossing the $1 billion valuation mark. Wasabi Technologies Inc. has become Boston's latest unicorn after raising $125 million in a Series D round led by L2 Point Management. The Boston-based company also announced the expansion of its debt facility with MGG Investment Group by $125 million. Wasabi said the $250 million in new funding puts its valuation over $1.1 billion. Read more >>
Read more...

Cloud storage startup Wasabi raises $250M to reach unicorn status

The cloud services sector is still dominated by Amazon and the other so-called “hyperscalers” — e.g. the Microsoft Azures, Google Cloud Platforms and IBM Clouds of the world. According to Synergy Group, an IT market research firm, Amazon, Microsoft and Google together held a 65% share of the global cloud services market as of Q2, up 61% year-over-year. Read more >>
Read more...

Music & Cloud Storage Pioneer: 10 Burning Questions with David Friend

David Friend may singlehandedly be the most interesting person I’ve ever met. From his storied background in the music industry to being a wildly successful CEO with six successful startups under his belt, there is always something new and different to learn from him and about him. During one of our recent meetings, I told him many people have a similar opinion about him, and he just giggled. He said he never thought of himself that way and was just interested...
Read more...