Startup profile · funding coverage
Wasabi Technologies funding, valuation and investors
S3-compatible cloud storage provider offering predictable object-storage pricing; raised $70M equity at $1.8B valuation and secured a separate $250M credit facility in 2026.
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Funding, valuation & investors
Answer-first snapshotLatest funding
Equity funding
$70M · January 13, 2026
Latest known valuation
Not an equity valuation
Credit facility (debt, not equity) · April 21, 2026
Total disclosed equity funding
$70M
Excludes debt, grants, acquisitions, secondaries, and IPO proceeds.
Current status
private
growth · Boston, Massachusetts, United States
Investors in latest funding
Lead: L 2 Point Management
Other: Pure Storage , Fidelity Management & Research Company
Latest tracked event: Credit facility (debt, not equity) (April 21, 2026). It is shown separately because it is not counted as disclosed equity funding.
Overview
Wasabi Technologies supplies S3-compatible cloud object storage and related services for enterprises, AI workloads, backup and media. On January 13, 2026 it announced a $70M equity round led by L 2 Point Management, with Pure Storage and Fidelity Management & Research participating, at a $1.8B private valuation.
Wasabi's January announcement stated total funding of more than $600M; an April 21 announcement said more than $700M, with different timing and business changes. On April 21 it separately secured a $250M credit facility led by Bain Capital Private Credit and other lenders; the facility is borrowing capacity, not a $250M equity investment.
The company also acquired Seagate's Lyve Cloud assets and expanded dedicated AI storage work in 2026. Alumni Ventures' official APEX selection lists Wasabi as a portfolio company, without identifying AV's participation in the January equity financing.
Why Wasabi Technologies is interesting
Wasabi's 2026 financing mixes two materially different capital types: $70M of equity at a $1.8B private valuation and a $250M credit facility that is debt, not another venture round. The company also sells differentiated storage performance classes for AI workloads, making its economics a useful contrast with the major hyperscalers.
Product & use cases
S3-compatible cloud object storage with no standard egress or API request fees in its core pricing model, plus AI/ML and performance-focused storage products such as Wasabi AiR and Wasabi Fire.
- Offsite backup and disaster recovery for enterprise data
- Media asset storage and distribution workflows
- Model-training, inference and AI data pipelines with predictable storage economics
Key facts
- Jan 13, 2026: $70M new equity led by L 2 Point Management at $1.8B private valuation.
- Apr 21, 2026: $250M credit facility; debt financing, not another equity round.
- Company said it operated 16 global storage regions with more than 3 exabytes under management in January 2026.
- Sep 10, 2026: announced a dedicated AI business for AI labs and neocloud providers.
Funding history (newest first)
Credit facility (debt, not equity)
2026-04-21 Up to $250M debt facility Valuation: Not an equity valuation- Bain Capital Private Credit (lead)
- BTG Pactual Global Alternatives (participant)
- Neuberger Specialty Finance (participant)
- Energy Impact Partners (participant)
Source: Read source · wasabi.com
Equity funding
2026-01-13 $70M Valuation: $1.8B- L 2 Point Management (lead)
- Pure Storage (participant)
- Fidelity Management & Research Company (participant)
Source: Read source · wasabi.com
Investors in our directory
Funds linked from Wasabi Technologies's profile — open a fund page for stage focus and related deal articles.
Competitive landscape
Edge: Predictable object-storage pricing and S3 compatibility help simplify migrations, but performance tiers, minimum retention terms, network path, retrieval patterns, compliance and durability must be compared with full customer workloads.
Use total cost per stored TB and data-egress pattern rather than storage unit price alone. The $250M credit facility creates borrowing capacity and debt obligations; it should not be summed into venture equity funding or used to infer valuation.
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AWS S3 incumbent
Large hyperscale object storage offering many tiers and integrated services.
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Backblaze B2 direct
Independent cloud object storage with different retrieval and pricing rules.
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Cloudflare R2 direct
S3-compatible object storage with a no-egress pricing proposition.
Industries
Market / IPO context
Editorial / static context — not a live quote.
FAQs about Wasabi Technologies
Practical answers founders, operators, and investors typically search for.
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