DVI Equity Partners has made an investment in Boston-based Wasabi Technologies, a hot cloud storage company. No financial terms were disclosed. Last week it was announced that Wasabi had raised $68 million in Series B financing in a round that included Forestay Capital.
TUCSON, Ariz.–(BUSINESS WIRE)–DVI Equity Partners, LLC (DVI) today announced its investment of venture capital funds and strategic business expertise in Wasabi Technologies, a disruptive hot cloud storage company taking its technology global to serve a growing demand by data-rich industries and the public sector for less expensive, faster and more secure cloud storage.
According to analyst Sushrutha Sadashiva at Frost & Sullivan, a leading global market research and consultancy focused on opportunities driven by disruptive technologies, megatrends, emerging markets and new business models, Wasabi’s security-oriented cloud storage architecture and competitive pricing model has set a benchmark among its peers, thereby disrupting the cloud storage framework dominated by large companies such as Amazon, Google and Microsoft.
“We believe Wasabi is well on its way to becoming an international hot cloud storage leader,” said DVI Managing Partner Robert Griffin. “It’s been said that data is the new oil and the growth of big data continues to accelerate. In fact, the current trend among data-rich industries like media, entertainment, video surveillance and education is a two-fold increase in the need for hot cloud data storage annually. The leaders at Wasabi recognized this significant market trend and have leveraged their storage expertise to capitalize upon it, and we are pleased to support their ongoing success.”
In addition to participating in the Series B financing round that netted Wasabi $68 million from a combination of industry veterans and family offices, DVI Equity Partners is providing growth strategy guidance, talent recruitment assistance and helping to expand public sector markets for Wasabi.
“Wasabi’s success in expanding and capitalizing on major data storage market trends is dependent on a collaboration of many factors, not the least of which are partnerships with companies like DVI,” said Wasabi Co-Founder and CEO David Friend. “In addition to capital, DVI is opening doors into new markets and contributing to a strategic mindset that supports, sustains and increases our ability to be a global hot data storage game changer.”
About Wasabi Technologies
Wasabi Technologies is a hot cloud storage company delivering low-cost, fast and reliable cloud storage. Wasabi is 80% less expensive and 6x faster than Amazon S3, with 100% data immutability protection and no data egress feed. Co-founders and cloud storage pioneers David Friend and Jeff Flowers created Wasabi as part of their mission to commoditize the storage industry. Wasabi is a privately held company based in Boston, MA. Visit wasabi.com for additional information
ABOUT DVI Equity Partner, LLC
DVI Equity Partners, LLC was founded in spring of 2018 with the singular mission to invest in early stage, emerging technology companies that specialize in disruptive technology, with an emphasis on companies founded and led by women and minorities. The firm evaluates emerging technology companies that create B2B value in areas including national security, enterprise software, artificial intelligence, and data storage and analysis. DVI shares expertise, resource and forms relationships with entrepreneurs to help them transform the way industries and the public sectors conduct business. Visit http://www.dviequitypartners.com for additional information.