Wasabi
Wasabi sells low-cost, S3-compatible 'hot' cloud object storage with no egress or API fees to enterprises, MSPs and media, surveillance and AI customers.
Wasabi Technologies, founded in Boston in 2017 by Carbonite co-founders David Friend and Jeff Flowers, sells single-tier S3-compatible cloud object storage with predictable pricing and no egress or API fees. It sells directly and through channel partners and MSPs. Its AI-focused products include Wasabi AiR (AI metadata tagging) and Wasabi Fire (an NVMe storage class). In 2026 it raised $70M in equity at a reported $1.8B valuation, backed by L2 Point and Pure Storage, and arranged a $250M credit facility led by Bain Capital. It also announced plans to acquire Seagate's Lyve Cloud business. Third-party estimates put 2024 revenue at about $160M, with about 23K customers.
Top 100 SaaS by revenue (GetLatka). A SaaS company retooling its product to be AI-native.
