Wasabi Technologies is getting 68 million times hotter.
The cloud storage provider founded by Carbonite co-founders David Friend and Jeff Flowers announced on Wednesday the closing of a $68 million Series B financing round.
As it has done in the past, Wasabi took no money from venture capital firms and relied on industry veterans and family offices.
The Series B round includes Forestay Capital, the company's first foreign investor. Founded in 2017, Forestay invests in the tech sector and is part of Waypoint Capital, chaired by Swiss entrepreneur Ernesto Bertarelli.
Previous angel investors in Wasabi include Sycamore Networks founder Desh Deshpande, former Data General CEO Ron Skates and longtime Greylock partner Howard Cox. Last year, BostInno reported that Wasabi raised $10.7 million in a convertible note, to be converted into Wasabi’s Series B financing round.
Wasabi came out of stealth mode last year and positioned itself as a competitor of Amazon S3, claiming that its cloud is cheaper and faster. It currently serves more than 3,000 customers, with nearly 20% of the company’s business coming from the European Union.
The company will open its first European data center later this year, while its second data center near Portland, Oregon, is mainly supporting customers from Asia.
In Boston, the company's office is on the 29th floor of the Prudential Center and is basically the opposite of an open office, with a mix of common spaces and traditional, one-person offices.
"The Series B financing will allow Wasabi to expand internationally, continue to invest in our brand and enable us to compete for the largest storage deals in the world," Friend, CEO of Wasabi, said in a statement. "Our objective is to make Wasabi into one of the world’s most renowned cloud storage vendors."
