Wasabi, a Japan – Based company, reaches a $250 million startup in new funding, gaining $495 million in a $125 million partial series D equity ($125 million partial debt) headed by L2 Point Management in conjunction with Cedar Pine (an affiliate of Cerberus Capital Management), and Fidelity Management & Research Company, achieved more than $1.1 billion worth of the company’s valuation.
With the $125 million increment in debt facility with MGG Investment Group, Wasabi hopes to expand the market scale, thereby enhancing channel partnership of the tech sector. The company aims to achieve this by funding capital technologies storage facilities and creating a new generation of cloud storage.
David Friend, Co-Founder of Wasabi Technologies, highlighted that the focus is to build cloud storage with a virtuoso ability stating that none in the industry has attained that record, he added that the best performance and security are readily available at the lowest prices in the industry. In anticipation, Wasabi seeks to cover more ground as the largest pure-play cloud storage vendor.
From 2020 to 2021, the company recorded a 100% increment in revenue and registered not less than 40,000 customers in over 100 countries with about 13 storage regions.
In addition, Wasabi Technologies partners with over 350 technology companies, including high-profile, disaster recovery, backup, and surveillance companies, storing data of industries, governments, and economic sectors.
Dittmar Kerstin, the Managing Partner of Lead Investor L2 point, joins Wasabi Technologies. In a statement, he shared his expectation that as Wasabi offers a simpler, faster, and even more economical solution to their cloud data storage needs, the capital raise will foster the quality services offered by the company across the globe delivering utmost satisfaction to esteemed customers.
Kevin Griffin, Chief Executive Officer of MGG Investment Group, also made public his company’s desire to partner with Wasabi Technologies for global expansion.
Please visit us @GoSpeedHub on Facebook, Instagram, and Twitter for more information.
Image Source – Wasabi
