Wasabi Raises $27.5M in Debt Financing


Wasabi, a Boston, MA-based hot cloud storage company, raised $27.5m in debt financing.

MGG Investment Group provided the facility, bringing total financing raised since launch to nearly $140m.

The company will use the funds to enhance its infrastructure, including constructing additional data centers in new geographies.

Created by Carbonite co-founders and cloud storage pioneers David Friend and Jeff Flowers, Wasabi provides cloud storage for businesses all over the world. It enables organizations to store and instantly access data with no unpredictable egress fees. In 2020, the company’s total storage expanded 150%, annual revenues grew by more than 3 times over 2019 and customer base increased to more than 21,000 businesses, educational institutions, municipalities and technology service providers worldwide.