Funding round
Wasabi Growth
Reported as "Growth Equity"
Wasabi, which works in cloud storage solutions in Boston, raised $70M in a Growth round announced on 13 Jan 2026, led by L2 Point, at a $1.80B post-money valuation. 3 firms took part. It is Wasabi's sixth venture round on record; the one before was a Growth in Oct 2025.
$70M
Amount raised
$1.80B
Post-money valuation
3
Investors
1 lead
2.6x
Step-up from the Series C
$700M in Apr 2021
3.9%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Wasabi at $1.80B after the new money, 2.6 times the $700M of its Series C (Apr 2021). The $70M bought investors about 3.9% of the company. It came 3 months after Wasabi's Growth. It is 21% of the $328M Wasabi has raised in the venture rounds on record. No later venture round is on record for Wasabi.
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 1 Oct 2025 $33M
- Growth this round 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
L2 Point led the round with 2 other firms.
Lead investor
- backs 3 venture-backed companies new investor
Also in the round
- Pure Storage new investor
- Fidelity Management & Research Company new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
13 Growth rounds in Hosting & Cloud Infrastructure Providers within a year either side disclosed an amount; the median was $300M, and this round was 23% 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 Feb 2026 | $550M | not disclosed | TD and Mizuho |
| Hosting & Cloud Infrastructure Providers | 9 Dec 2025 | $100M | not disclosed | not named |
| Giant Panda Hosting & Cloud Infrastructure Providers | 11 Sep 2025 | $1.20B | not disclosed | SMBC and MUFG |
| DataBank Hosting & Cloud Infrastructure Providers | 15 Jun 2026 | $1.45B | not disclosed | not named |
| 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 | 2 Jul 2025 | $34M | $470M | NGP Capital |
| Hosting & Cloud Infrastructure Providers | 20 Jun 2025 | $3.8M | not disclosed | not named |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Wasabi raise in its Growth round?
Wasabi raised $70M in its Growth round, announced in Jan 2026.
Who led Wasabi's Growth round?
L2 Point led it, with Pure Storage and Fidelity Management & Research Company.
What was Wasabi's valuation at the Growth round?
$1.80B post-money.
How does it compare with other Growth rounds in Hosting & Cloud Infrastructure Providers?
13 Growth rounds in Hosting & Cloud Infrastructure Providers within a year either side disclosed an amount; the median was $300M, and this round was 23% of the median.