Fueled for Growth
Hello, today I have a very exciting announcement. Wasabi just closed a $68 million Series B financing that will fuel our international expansion and supercharge our investments in the US.
In putting this investment together, I decided not to go the usual venture capital route, but to raise money from prominent entrepreneurs and family offices. We’ve assembled a fantastic investor group with high level contacts and knowledge in nearly every major industry. The fact that this round was way oversubscribed speaks volumes about our savvy investors who see a huge opportunity in cloud storage and in Wasabi’s ground-breaking technology in particular. In addition to the many prominent US investors, our Series B round presented a perfect opportunity to bring in our first European investors, the most prominent of which is the family office of Ernesto Bertarelli, a Swiss entrepreneur who built and sold a giant pharmaceutical company, and then went on to beat Larry Ellison’s Oracle yacht in the America’s cup.
The market for cloud storage is growing by leaps and bounds. Our commitment to our customers is that nobody will ever beat us on price or performance. With our new $68 million war chest, we’ll be able to get our message out, elevate our global brand, build new data centers to meet the exploding demand for Wasabi storage, and strengthen our management team so that we can handle the growth that will come in the next couple of years. We are committed to being the best cloud storage company in the business.
Thanks for following Wasabi. You’ll be hearing a lot more about us in the coming months.