Participated · Debt Financing · Apr 2026

Wasabi Technologies has built a high-growth business offering Hot Cloud Storage that emphasizes predictable pricing by eliminating egress and API request fees. The company serves customers in over 100 countries and operates 16 global storage regions. Wasabi recently acquired Lyve Cloud from Seagate Technology and introduced Wasabi Fire, an NVMe-based storage class designed for compute-intensive AI and ML training. The business has raised over $700 million in total funding and was valued at $1.8 billion following a $70 million equity round led by L2 Point Management with participation from Everpure. Wasabi says it will continue investing in its platform, infrastructure, and global expansion to meet rising demand for scalable, secure data storage.