Funding round
Wasabi Growth
Reported as "Growth Equity"
Wasabi, which works in cloud storage solutions in Boston, raised $33M in a Growth round announced on 1 Oct 2025. It is Wasabi's fifth venture round on record; the one before was a Series D in Dec 2022.
$33M
Amount raised
Not disclosed
Post-money valuation
Valuation
What this round says about the price
Wasabi did not disclose a valuation in this round; its last disclosed one was $700M at the Series C (Apr 2021). It came 34 months after Wasabi's Series D. It is 9.9% of the $328M Wasabi has raised in the venture rounds on record. Wasabi raised again 3 months later: a Growth round of $70M in Jan 2026, at $1.80B 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 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 this round 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
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, scaling operations and working capital.
- Product development
- Scaling operations
- Working capital
Comparable rounds
How it compares
16 Growth rounds in Hosting & Cloud Infrastructure Providers within a year either side disclosed an amount; the median was $317M, and this round was 10% of the median. The closest in time, other companies' Growth rounds in Hosting & Cloud Infrastructure Providers:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Giant Panda Hosting & Cloud Infrastructure Providers | 11 Sep 2025 | $1.20B | not disclosed | SMBC and MUFG |
| Flexential Hosting & Cloud Infrastructure Providers | 20 Aug 2025 | $1.00B | not disclosed | not named |
| Hosting & Cloud Infrastructure Providers | 15 Aug 2025 | $300M | not disclosed | not named |
| Hosting & Cloud Infrastructure Providers | 9 Dec 2025 | $100M | not disclosed | not named |
| Hosting & Cloud Infrastructure Providers | 2 Jul 2025 | $34M | $470M | NGP Capital |
| Giant Panda Hosting & Cloud Infrastructure Providers | 11 Feb 2026 | $550M | not disclosed | TD and Mizuho |
| Hosting & Cloud Infrastructure Providers | 20 Jun 2025 | $3.8M | not disclosed | not named |
| Hosting & Cloud Infrastructure Providers | 30 Apr 2025 | $250M | not disclosed | NOVA Infrastructure |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Wasabi raise in its Growth round?
Wasabi raised $33M in its Growth round, announced in Oct 2025.
What was Wasabi's valuation at the Growth round?
It was not disclosed; its last disclosed one was $700M at the Series C (Apr 2021).
How does it compare with other Growth rounds in Hosting & Cloud Infrastructure Providers?
16 Growth rounds in Hosting & Cloud Infrastructure Providers within a year either side disclosed an amount; the median was $317M, and this round was 10% of the median.
Did Wasabi raise again after this round?
Yes: a Growth round in Jan 2026 of $70M at $1.80B post-money.