Company Profile: Wasabi Technologies
Cost effective alternative to AWS S3 charging only the capacity used
This is a Press Release edited by StorageNewsletter.com on January 7, 2025 at 2:02 pmCompany name:
Wasabi Technologies, Wasabi Technologies LLC
HQ and offices:
Boston, MA
15 Storage regions worldwide across the United States and Canada, London, Frankfurt, Amsterdam, Paris, Milan, Tokyo, Osaka, and Sydney
Website:
wasabi.com
Date founded:
2017
Founders:
David Friend
and 
Jeff Flowers
Dave and Jeff founded Wasabi with a simple question in mind: “What if we could cut the cost of cloud data storage by 80% while at the same time making it faster and simpler?“
Founded in 2017 by Carbonite co-founders and cloud storage pioneers, David Friend and Jeff Flowers, Wasabi has done just that. With over an exabyte of storage already deployed across storage regions in the US, Europe, and Asia, Dave and Jeff built Wasabi to grow with its customers’ data storage needs.
Financial funding:
$534M
Employees numbers:
Over 400 team members world wide
Revenue:
As a private company, Wasabi doesn’t disclose revenue. However it is considered one of Deloitte’s fastest growing tech companies in North America and experienced 60% growth year-over-year.
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Technology:
Cloud storage
Products:
Wasabi hot cloud storage, Wasabi AiR intelligent storage, Wasabi Surveillance Cloud, Wasabi Cloud NAS. Additionally, Wasabi offers storage management tools including Wasabi Account Control Manager.
Release and Roadmap:
Wasabi is focused on being the best pure play cloud storage provider in the market. It will share more details on new features in the coming months.
Pricing model and price:
Wasabi customers can either pay as they go, at a price of $6.99/terabyte/month; or purchase reserved capacity storage in 1,3,or 5 year increments with a discounted rate. Wasabi does not charge for egress or API request, meaning customers can plan their budgets to the penny, no matter how much they access data.
GTM:
Wasabi has a robust channel strategy with 15,000 partners (and growing) worldwide selling Wasabi. It also sells directly to customers, but its channel has really grown exponentially over the years and is its GTM focus.
Additionally, Wasabi has strategically placed storage regions with local sales and support teams to work with customers and partners there and set them up for success. Just this year Wasabi opened new regions in Milan, with Retelit, and a second in London with IBM.
Customers:
Wasabi partners with some of the world’s most recognizable companies in over 100 countries, including Liverpool Football Club, Boston Red Sox, Legendary Entertainment, Ivy League institutions and more. It serves customers across a variety of industries including sports and entertainment, education, healthcare, life sciences, and public sector.
Workloads/Use cases/Applications:
Wasabi’s top use cases include:
- Backup and recovery
- Archiving
- Surveillance
- Media workflows
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Target market:
Wasabi is a great fit for small and medium sized businesses who need a reliable alternative to the hyperscalers, and data-intensive enterprises who need a more affordable cloud storage solution. Additionally, MSPs and channel resellers find great value in bundling Wasabi hot cloud storage into their own services.
Competition:
Wasabi considers the hyperscalers like AWS, Google Cloud, and Microsoft Azure as competitors on storage.
Comments
Wasabi Technologies has demonstrated a unique trajectory and has shaken cloud storage positions especially ones occupied by the top 3 cloud service providers, AWS, Azure and GCP. Beyond these players, we can add 2 other players like Backblaze and Storadera from Estonia, as several vendors have as well found this segment to be a good one but it remains a capital intensive activity.
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The company has jumped into AI to offer a new level of service for unstructured data, not so easy to search beyond metadata level. Due to time to market challenge and real development effort, the team has decided to acquire Curio AI from GrayMeta to offer now WasabiAiR. This service relies on some intelligence that feeds and enriches metadata with information discovered on the stored content and then offer this search capability to users to help them find the right info in seconds. The good example of that, shown during the recent IT Press Tour, was the Liverpool football club videos with live search of visible video items.
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