the bucket

Helping CFOs Save Money on Enterprise Cloud Storage

Helping CFOs Save Money on Enterprise Cloud Storage

Michael Bayer
By Michael Bayer
Chief Financial Officer, Wasabi Technologies
12/14/2022

This week, Wasabi reached another milestone, completing our $140 million Series D funding round. As the company’s CFO, I’m incredibly proud of Wasabi’s ability to close on such a substantial investment and to reach unicorn status in this economic environment. It really speaks to the value we bring to the market and to the enormous benefits of cloud storage.

All CFOs are facing economic uncertainty right now, between inflation, supply chain issues, a potential recession, and other macro and microeconomic factors. Capital costs are rising, with interest rates up and stock prices off their highs, and every dollar spent or invested is being carefully considered. We are all balancing the financial realities of reduced budgets and preparing a company to withstand a potential downturn, while also evolving our roles to have more leadership in the strategic flow of data and information so that it can be actually put to use and used as a competitive advantage.

With data being the lifeblood for any organization, each one of us must find a way to continue investing in data management and storage solutions to keep business innovation and operations going. That’s why a simple, secure, and affordable solution like Wasabi hot cloud storage is a game changer for CFOs like me.

Cost-effective cloud storage to protect your data

Wasabi is an attractive proposition because we save companies money. We are 1/5th the cost of the hyperscaler providers like AWS, Google, and Microsoft Azure. And we are significantly less expensive and easier to manage than on-premises storage. Unlike our competitors, we don’t charge for egress or API requests. This translates into a lower, fixed-price investment in data protection and storage–no more hidden costs and uncertainty in IT expenses, and no more overpaying for storage. These cost savings on cloud storage are critical for organizations looking to stabilize monthly spending while maintaining swift and easy access to their business-critical data.

Expensive and unfair egress fees can make many organizations feel as if they’re locked-in to their existing cloud storage vendor. That’s why we recently launched our new Cloud Sync Manager service that makes it cost-effective and easy to migrate data out of these expensive environments directly to Wasabi to start saving money right away.

Validated global enterprise-class cloud provider

The completion of our Series D, and the global growth that we have experienced over the past few years, validate our simple, low-price approach to secure cloud storage. Wasabi is now trusted by over 40,000 customers, including some of the world’s most well-known companies, many major universities, and plenty of government entities. We have 13 storage regions across North America, Europe, and Asia Pacific, meaning we are where you need us to be. Deloitte also recently ranked Wasabi #42 on its Fast500 list of the fastest growing technology companies in North America.

Economic uncertainty can be a nightmare for planning and budgeting, but thanks to Wasabi, financial leaders no longer have to choose between extremely expensive large providers or cheap startups that could shutter tomorrow. Wasabi delivers the best of both worlds–global, high-performance storage that is built for the future, but at a fraction of the cost.

We’re here to help you get the most out of your data, now and for years to come.

enterprise
reducing costs
the bucket
Michael Bayer
By Michael Bayer
Chief Financial Officer, Wasabi Technologies