Funding round
Wasabi Growth
Reported as "Growth Equity"
Wasabi, which works in cloud storage solutions in Boston, raised $30M in a Growth round announced on 28 May 2020, led by Forestay, at a $281M post-money valuation. 1 firm took part. It is Wasabi's second venture round on record; the one before was a Series B in Sep 2018.
$30M
Amount raised
$281M
Post-money valuation
1
Investors
1 lead
11%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Wasabi at $281M after the new money. The $30M bought investors about 11% of the company. It came 20 months after Wasabi's Series B. It is 9.2% of the $328M Wasabi has raised in the venture rounds on record. Wasabi raised again 11 months later: a Series C round of $112M in Apr 2021, at $700M post-money.
Wasabi's funding rounds
Wasabi has 6 venture rounds on record and 2 other deals. This one is highlighted.
- Series B 12 Sep 2018, led by Forestay $68M
- Growth this round 28 May 2020, led by Forestay $30M$281M post-money
- Debt not a venture round 19 Jan 2021, led by MGG Investment Group $28M
- Series C 29 Apr 2021, led by Fidelity Management & Research Company $112M$700M post-money
- Series D 7 Dec 2022, led by Azura and SiS Cloud Global Tech Fund 8 $15M
- Growth 1 Oct 2025 $33M
- Growth 13 Jan 2026, led by L2 Point $70M$1.80B post-money
- Debt not a venture round 21 Apr 2026, led by Bain Capital $250M$1.80B post-money
Investors
Who put money in
Forestay led the round.
Lead investor
- backs 13 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to geographic expansion and scaling operations.
- Geographic expansion
- Scaling operations
Comparable rounds
How it compares
5 Growth rounds in Hosting & Cloud Infrastructure Providers within a year either side disclosed an amount; the median was $185M, and this round was 16% of the median. The closest in time, other companies' Growth rounds in Hosting & Cloud Infrastructure Providers:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| TierPoint Hosting & Cloud Infrastructure Providers | 24 Mar 2020 | $320M | not disclosed | Argo Infrastructure Partners and Wafra |
| DataBank Hosting & Cloud Infrastructure Providers | 6 Jan 2020 | $185M | not disclosed | Colony Investment Management |
| Crusoe Hosting & Cloud Infrastructure Providers | 6 Dec 2019 | $30M | not disclosed | Bain Capital Ventures and KCK Financial Services |
| Hosting & Cloud Infrastructure Providers | 31 Oct 2019 | $39M | not disclosed | not named |
| Cologix Hosting & Cloud Infrastructure Providers | 23 Sep 2019 | $500M | not disclosed | not named |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did Wasabi raise in its Growth round?
Wasabi raised $30M in its Growth round, announced in May 2020.
Who led Wasabi's Growth round?
Forestay led it.
What was Wasabi's valuation at the Growth round?
$281M post-money.
How does it compare with other Growth rounds in Hosting & Cloud Infrastructure Providers?
5 Growth rounds in Hosting & Cloud Infrastructure Providers within a year either side disclosed an amount; the median was $185M, and this round was 16% of the median.
Did Wasabi raise again after this round?
Yes: a Series C round in Apr 2021 of $112M at $700M post-money.