Wasabi Technologies raised $250M.

Wasabi Technologies raised $250M in funding, a Boston, MA-based hot cloud storage company led by L2 Point Management.

Wasabi offers enterprises cutting-edge cloud storage. Additionally, the business collaborates with more than 350 technology firms, including the majority of the top backup, disaster recovery, and surveillance firms in the globe. Professional sports, energy and natural resources, finance, security, education, manufacturing, consumer technology, healthcare, scientific research, media and entertainment, as well as other industries, use Wasabi to store data.

In addition to having more than 40,000 customers in over 100 countries, 13,000 partners, more than 250 staff globally, and 13 storage areas spread across North America, Europe, and Asia Pacific, Wasabi’s revenues more than doubled from 2020 to 2021.

The money will be used by the business to expand into more vertical markets and geographical areas, strengthen its channel relationships, scale its go-to-market team, and develop its worldwide brand initiatives. In the meantime, the loan will be used to fund infrastructure and capital goods in its storage locations throughout the globe as well as investments in technology to build a foundation for a cloud storage architecture. Additionally, the business increased the existing $125 million financing facility it had with MGG Investment Group.

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