Wasabi Raises $70M in New Equity to Power the Next Era of Data Infrastructure

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    "url": "https://wasabi.com/company/newsroom/press-releases/wasabi-raises-70m-in-new-equity-to-power-the-next-era-of-data-infrastructure",
    "title": "Wasabi Raises $70M in New Equity to Power the Next Era of Data Infrastructure",
    "amount": "$70 million",
    "excerpt": "Wasabi raises $70M in new equity to power the next era of data infrastructure.\n\nBoston, MA - Wasabi Technologies, the Hot Cloud Storage company, today announced a $70 million equity funding round led by L2 Point Management with participation from Pure Storage and existing investors including Fidelity Management & Research Company. The new round values Wasabi at $1.8 billion and brings the company's total funding to over $600 million. The capital will be used to accelerate Wasabi's expansion into AI infrastructure, broaden its global footprint, and enhance its product portfolio to meet the growing data demands of enterprises and AI developers worldwide.\n\n\"We're ushering in the next generation of cloud storage, powering data-intensive workloads like generative AI and autonomous systems,\" said David Friend, co-founder and CEO of Wasabi Technologies. \"This funding underscores Wasabi's strong market position and continued growth as enterprises and AI developers alike seek a better, more predictable alternative to the hyperscalers.\"\n\nWasabi disrupted the cloud storage model in 2017 with its flagship Hot Cloud Storage, delivering versatile, cost-predictable storage with no fees for egress or API requests. The company expanded its AI portfolio with Wasabi AiR, hot cloud storage with AI-powered metadata tagging, and Wasabi Fire, an NVMe storage class for compute-intensive AI and ML...",
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    "financing_type": "equity funding round",
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