BOSTON, MA, May 21 (Bernama-GLOBE NEWSWIRE) — Wasabi, the hot cloud storage company, today announced $25 million in additional funding led by Prosperity7 Ventures, the diversified growth fund of Aramco Ventures. Western Digital Capital, the investment arm of storage device manufacturer Western Digital, also participated in the round. This round is an extension of Wasabi’s Series C financing announced in April, expanding the total funding raised for the round to $137 million and the company’s total equity financing to $244 million.
This latest round of funding comes as Wasabi reported 3x year-over-year growth, reaching 23,000 customers worldwide and over 5,000 Channel Partners and 350 Technology Alliance Partners. The additional capital will be used to further accelerate Wasabi’s worldwide roll-out of data centers and to grow the company’s distribution channels and partner network while continuing to build a team to support this rapid expansion.