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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. 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.

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