Funding round
Wasabi Series B
Wasabi, which works in cloud storage solutions in Boston, raised $68M in a Series B round announced on 12 Sep 2018, led by Forestay. 4 firms took part. It is Wasabi's first venture round on record.
$68M
Amount raised
Not disclosed
Post-money valuation
4
Investors
1 lead
Valuation
What this round says about the price
Wasabi did not disclose a valuation in this round. It is Wasabi's first venture round on record, 1 year after it was founded in 2017. It is 21% of the $328M Wasabi has raised in the venture rounds on record. Wasabi raised again 20 months later: a Growth round of $30M in May 2020, at $281M post-money.
Wasabi's funding rounds
Wasabi has 6 venture rounds on record and 2 other deals. This one is highlighted.
- Series B this round 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 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 with 3 other firms.
Lead investor
- backs 13 venture-backed companies new investor
Also in the round
- Family Offices new investor
- DVI Equity Partners new investor
- 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
5 Series B rounds in Hosting & Cloud Infrastructure Providers within a year either side disclosed an amount; the median was $17M, and this round was 4.1 times the median. The closest in time, other companies' Series B rounds in Hosting & Cloud Infrastructure Providers:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Hosting & Cloud Infrastructure Providers | 9 Oct 2018 | $30M | not disclosed | Kleiner Perkins |
| Hosting & Cloud Infrastructure Providers | 20 Dec 2018 | $100M | not disclosed | HCH Group Company Ltd. |
| Hosting & Cloud Infrastructure Providers | 27 Feb 2019 | $11M | not disclosed | ETF Partners and Inven Capital |
| Hosting & Cloud Infrastructure Providers | 13 May 2019 | $14M | not disclosed | Moor Davidow Ventures |
| Hosting & Cloud Infrastructure Providers | 28 Jun 2019 | $17M | not disclosed | BGF |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Wasabi raise in its Series B round?
Wasabi raised $68M in its Series B round, announced in Sep 2018.
Who led Wasabi's Series B round?
Forestay led it, with Family Offices, DVI Equity Partners and EQx Fund.
What was Wasabi's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Hosting & Cloud Infrastructure Providers?
5 Series B rounds in Hosting & Cloud Infrastructure Providers within a year either side disclosed an amount; the median was $17M, and this round was 4.1 times the median.
Did Wasabi raise again after this round?
Yes: a Growth round in May 2020 of $30M at $281M post-money.