Wasabi Technologies
Category: AI Infrastructure
A high-performance, low-cost cloud object storage service designed for 'hot' data, recently expanded to include AI-powered media indexing and metadata generation. Wasabi Technologies was founded in 2015. The company is led by David Friend. Based in Boston, USA. Team size: 500-1000. Total funding raised: $811.3M. Latest round: Series D Expansion (AI Growth Round). Key investors include ["L2 Point Management","Fidelity Management & Research Company","Cedar Pine","Prosperity7 Ventures","MGG Investment Group"].
- Founded
- 2015
- Headquarters
- Boston, USA
- Team size
- 500-1000
- Total funding
- $811.3M
Value proposition
Offers cloud storage that is 1/5th the price of Amazon S3 with significantly faster performance and zero fees for egress or API requests, providing predictable 'utility-style' pricing.
Products and solutions
["Wasabi Hot Cloud Storage (Core S3-compliant object storage)","Wasabi AiR (AI-enabled intelligent media storage with auto-tagging)","Wasabi Surveillance Cloud (Hybrid cloud for video management systems)","Wasabi Cloud Sync Manager (Automated data migration and replication)","Wasabi Direct Connect (High-speed dedicated network connectivity)"]
Unique value
Eliminates complex storage tiering (no 'cold' or 'archive' tiers) by treating all data as 'hot' and instantly accessible without financial penalties for data retrieval.
Target customer
Enterprises, Managed Service Providers (MSPs), Media & Entertainment firms, Video Surveillance providers, and AI/ML developers.
Industries served
["Media & Entertainment","Video Surveillance & Security","Healthcare & Life Sciences","Education & Research","Government & Public Sector","Artificial Intelligence & Machine Learning"]
Technology advantage
Utilizes a proprietary distributed file system (Wasabi File System) that optimizes data placement on disk for higher throughput than standard hyperscalers, combined with a 'no egress fee' business model that disrupts traditional cloud economics.
How they differentiate
Eliminates egress fees and API request charges while offering a single-tier 'hot' storage architecture that is 80% cheaper and significantly faster than Amazon S3.
Main competitors
["Amazon S3","Backblaze B2","Microsoft Azure Blob Storage"]
Key partnerships
["Technology Partners: Veeam, Commvault, Milestone Systems, and LucidLink","Infrastructure Partners: Equinix and Megaport","Strategic/Brand Partners: Boston Red Sox and Liverpool FC (Official Cloud Storage Partner)","Distribution Partners: Pax8 and TD SYNNEX"]
Notable customers
["Boston Red Sox","Liverpool FC","National Hockey League (NHL)","Legendary Entertainment","University of Oregon"]
Major milestones
["Achieved Unicorn status with a $1.1B valuation in 2022","Surpassed 1 million terabytes (1 exabyte) of data under management","Launched Wasabi AiR in 2024, the industry's first AI-powered intelligent media storage","Secured $70M in early 2025 to accelerate AI-first cloud storage infrastructure"]
Growth metrics
Estimated ARR of $160M-$200M; Unicorn valuation of $1.8B+; 14,000+ global partners and 100+ countries served.
Market positioning
Disruptive price-performance leader in the object storage market, targeting enterprises and MSPs seeking predictable cloud costs.
Geographic focus
Global operations with data centers across North America, Europe, and Asia-Pacific (including Japan and Australia).
Patents and IP
Holds multiple patents related to high-performance distributed storage, data integrity verification, and optimized object storage architectures (e.g., US Patent 10,108,355).
About David Friend
David Friend is a prolific serial entrepreneur who has co-founded seven technology companies. Most notably, he co-founded Carbonite (online backup), which he led through a successful IPO in 2011. His previous ventures include Pilot Software, FaxNet, Sonigistix, Computer Pictures Corporation, and ARP Instruments. He is widely regarded as a pioneer in the cloud storage industry and a visionary in commoditizing data storage.
Official website: https://wasabi.com