Hot cloud storage company Wasabi has raised $112m from a Series C funding round led by Fidelity Management & Research Company.
The round brings the company’s total funding to date to $219m, with an overall valuation of $700m.
Established in 2017, Boston-based Wasabi provides hot cloud storage for businesses globally to enable them to store and access an unlimited amount of data. This data can include surveillance, medical imaging, genomics, government data, movies, big science, education, backups and AI and machine learning data lakes.
The company has over 22,000 customers globally and has data centres in Europe, Japan and the US.
According to Wasabi, it intends to use the funding to expand its network of resellers, distributors and technology alliance partners and grow its development, sales, marketing, administration, support and operations teams.
The company is also looking to open data centres in new international markets and make further investments in globally building its brand.
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