Wasabi Technologies

What Wasabi Technologies does

Wasabi Technologies is a Boston-based private cloud object storage company founded in 2015 that operates an S3-compatible hot cloud storage platform across 16 enterprise storage regions covering North America, EMEA, and Asia-Pacific, managing in excess of 3 exabytes of customer data across more than 100 countries. The company's core technology is a single-tier hot object storage architecture with 99.9% system availability and 11 nines (99.999999999%) data durability, exposing 100% S3-API compatibility so that applications written for AWS S3, Azure Blob, or Google Cloud Storage run unchanged. Wasabi monetizes primarily through pay-as-you-go subscriptions starting at $6.99 per terabyte per month (scheduled to rise to $7.99 in July 2026) and reserved-capacity contracts in 1, 3, or 5-year terms, with no separate fees charged for egress, API requests, or data retrieval - the cost-economics that anchor the company's competitive positioning against hyperscale providers.

The product portfolio has expanded beyond core object storage into adjacent managed services: Wasabi AiR (AI-powered intelligent media storage with auto-tagging and speech-to-text), Wasabi Fire (NVMe-class high-performance storage for AI/ML workloads launched in 2026), Surveillance Cloud, Cloud NAS, and tools such as Cloud Sync Manager, Object Replication, Direct Connect, the Wasabi Ball physical data-transfer appliance, and the patent-pending Covert Copy ransomware-recovery feature with Multi-User Authorization. Wasabi sells primarily through a channel-first go-to-market with 17,000+ resellers, MSPs, system integrators, and technology alliance partners (Veeam, Commvault, Cohesity, Rubrik, HYCU, Dell Technologies, IBM, Synology, Pure Storage, Axis Communications, Hanwha Vision, Milestone, and NVIDIA among others), complemented by direct enterprise field sales and a self-serve product-led funnel featuring 30-day free trials and a TCO calculator. The company has raised over $700 million in cumulative equity and debt funding, achieved a $1.8 billion valuation in January 2026, and in April 2026 acquired Seagate's Lyve Cloud business to broaden its enterprise customer base.

Name

Wasabi Technologies

Legal name

Wasabi Technologies

Website

https://wasabi.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

101–250 employees

Short description

Wasabi Technologies is a Boston-based S3-compatible hot cloud object storage provider serving enterprises in 100+ countries with no-fee, hyperscaler-alternative pricing across 16 global regions, complemented by AI media services, surveillance storage, and ransomware-resilient backup tools sold primarily through 17,000+ channel partners.

Ownership category

akta.pro rank

Product category

Cloud Object Storage

NAICS

Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (5182), Software Publishers (5132)

SIC

Services-Prepackaged Software (7372), Computer Storage Devices (3572), Services-Computer Programming, Data Processing, Etc. (7370)

akta.pro industry

PRIMARYHDABAAAK

Cloud Storage Core Services (Object/Block/File Storage as a Service)

Hardware, Technology & Telecom/Cloud & Data Center Infrastructure/Public Cloud Infrastructure (IaaS/PaaS)

SECONDARYHDABAEAC

Object Storage Platforms

Hardware, Technology & Telecom/Cloud & Data Center Infrastructure/Storage Infrastructure (SAN/NAS/Object/Backup)

SECONDARYHDABAMAG

Hybrid Cloud Storage & Backup Infrastructure

Hardware, Technology & Telecom/Cloud & Data Center Infrastructure/Hybrid Cloud Infrastructure

SECONDARYHDABAIAK

Continuity for SaaS & Cloud Apps (M365/Salesforce Backup)

Hardware, Technology & Telecom/Cloud & Data Center Infrastructure/Disaster Recovery, Business Continuity & High Availability

SECONDARYBPAEAOAH

Cloud FinOps & SaaS Spend Management

Business & Public Services/IT & Digital Services (Managed Services, Systems Integration)/IT Asset Management & Software Licensing Services

Keywords

• Cloud object storage
• Hot cloud storage
• S3-compatible storage
• Data backup services
• Cloud storage platform

Headquarters

HQ city

Boston

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Infrastructure, Technology or R&D, Personnel, Marketing or Sales, Operations

Revenue model

1. Hot Cloud Storage Subscription: Primary revenue stream from cloud object storage services. Customers pay a flat rate per terabyte per month for storage capacity with no additional fees for egress, API requests, or data retrieval. Supports pay-as-you-go and reserved capacity pricing models.
2. Reserved Capacity Storage: Long-term commitment pricing model offering discounts for 1-year, 3-year, or 5-year capacity purchases. Provides predictable budgeting for enterprises with predictable storage needs.
3. Premium Support Plans: Optional paid support plans offering enhanced technical support beyond the free basic plan included with standard accounts.
4. Data Transfer Appliances: One-time hardware sales of Wasabi Ball data transfer appliances for organizations requiring physical data migration capabilities.
5. Wasabi AiR (Intelligent Media Storage): AI-powered media storage service with automated metadata tagging and transcription capabilities, positioned as a premium offering for media and entertainment customers.

Pricing tiers

Go-to-market motion4 records

Distribution channels6 records

Marketing channels8 records

Core offering

Wasabi Technologies sells S3-compatible hot cloud object storage as a service, delivering high-performance, always-available storage with a single hot tier (no cold/archive tiers), 11 nines of durability, and 99.9% availability. Its differentiated pricing model charges a flat rate per terabyte per month with no fees for egress, API requests, or data retrieval, positioning it as a cost-effective alternative to AWS S3, Azure, and Google Cloud. The platform spans 16 enterprise-class storage regions globally and is augmented by AI media storage, NVMe storage, surveillance cloud, cloud NAS gateway, and migration/multi-tenant tools.

Product overview

Wasabi Technologies offers a cloud object storage platform with multiple storage tiers and management tools. The core offering is Wasabi Hot Cloud Storage, an S3-compatible hot object storage service with flat-rate pricing and no egress fees. The product portfolio includes Wasabi Fire (NVMe-based high-performance storage for AI workloads), Wasabi AiR (AI-powered intelligent media storage with metadata tagging and transcription), Surveillance Cloud (video surveillance storage), and Cloud NAS (cloud gateway extension). Management tools include Account Control Manager (multi-tenant MSP platform), Object Replication, Cloud Sync Manager (migration), Direct Connect (private networking), and Wasabi Ball (physical data transfer appliance). Security features include Covert Copy (patent-pending ransomware protection) and Object Lock (immutability). The platform serves customers in over 100 countries across 16 global storage regions.

Differentiator

Problem solved

Functional benefit

Brands

• Wasabi AiR: AI-powered intelligent media storage service that integrates high-performance cloud storage with AI metadata auto-tagging and speech-to-text transcription for media content management.
• Wasabi Fire
• Wasabi Hot Cloud Storage
• Wasabi Surveillance Cloud
• Wasabi Cloud NAS
• Covert Copy
• Wasabi Account Control Manager
• Cloud Sync Manager
• Wasabi Ball
• Wasabi Direct Connect

Products and services

• Wasabi Hot Cloud Storage Flagship S3-compatible hot cloud object storage with 99.9% availability, 11 nines durability, flat-rate pricing, and no egress or API fees. Built for enterprises, education, healthcare, media, and MSPs seeking predictable storage cost.
• Wasabi Fire NVMe-based high-performance storage class designed for AI and machine learning workloads, offering compute-intensive storage comparable to Amazon S3 Express One Zone at dramatically lower total cost of ownership. Suitable for AI training and inference data pipelines.
• Wasabi AiR AI-powered intelligent media storage combining hot cloud storage with automated AI metadata tagging, multilingual speech-to-text transcription, and intuitive search. Built for media and entertainment organizations to accelerate content management and discovery.
• Wasabi Surveillance Cloud Cloud storage solution purpose-built for video surveillance workloads, enabling affordable scaling of camera deployments with S3 API connectivity and cloud gateway integration for VMS systems including Axis, Hanwha Vision, and Milestone Systems.
• Wasabi Cloud NAS Cloud gateway software that extends on-premises NAS capacity to infinite cloud storage while maintaining local-speed access within milliseconds. Priced at $8.99/month for pay-as-you-go with available reserve capacity storage discounts.
• Wasabi Account Control Manager Multi-tenant management platform enabling MSPs, distributors, and resellers to automate sub-account creation, administration, and consolidated billing from a single console. Free self-activation for MSPs with white-label customization available.
• Wasabi Ball Physical data transfer appliance for secure bulk transfer of large datasets to Wasabi cloud, supporting up to 250TB per appliance with AES 256-bit encryption. Enables bulk data migration for organizations with limited network bandwidth.
• Cloud Sync Manager Cloud-to-cloud migration tool enabling seamless data transfer from any S3-compliant storage to Wasabi with no downtime. Includes egress fee reimbursement and ROI calculator, with ROI achievable in as little as 60 days.
• Wasabi Direct Connect Private network connection service providing high-bandwidth, low-latency connectivity with options for N x 1, 10, or 100 Gbps speeds for secure, high-throughput data transfer between customer infrastructure and Wasabi storage regions.

Quantifiable outcome

• Up to 80% cost reduction compared to AWS S3, Azure Hot, and Google Cloud Platform
• +5 more outcomes

Named customers16 records

Segments7 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration25 records

AI capability7 records

Feature9 records

Partnerships

13 partnerships are on record, tiered flagship, core and minor.

• Liverpool Football ClubflagshipGTM or Marketing PartnerMulti-year partnership as Official Cloud Storage Partner using Wasabi AiR to power global digital content strategy. Generated nearly 800 million impressions during LFC's 2024/25 title-winning season with 57% brand awareness increase among business decision-maker fans.
• ScorePlaycoreTechnology or IntegrationPartnership to deliver AI-powered media management and scalable cloud storage solutions for sports organizations. Combines Wasabi AiR's automated metadata tagging and multilingual search with ScorePlay's platform for sports content management and distribution.
• SynologycoreTechnology or IntegrationStrategic partnership integrating Wasabi Hot Cloud Storage with Synology ActiveProtect enterprise backup appliances. Enables unified backup management across on-premises and cloud environments with off-site backups, immutable storage protection, and predictable pricing.
• Zero CircleminorStrategic or Co-development PartnerPartnership powering Wasabi Impact Circle sustainability initiative. Zero Circle platform enables users to track storage-related carbon footprints and purchase carbon credits from verified climate projects worldwide.
• Dell TechnologiescoreTechnology or IntegrationTechnology alliance partnership offering customers cost-effective alternative to extend on-premises storage into cloud. Validated integrations with Dell PowerProtect, PowerScale, and ObjectScale for hybrid cloud storage solutions.
• IBMcoreTechnology or IntegrationPartnership enabling fast and flexible hybrid cloud workload management. IBM Cloud customers can access Wasabi storage through IBM Cloud Object Storage partnerships. Silicon Valley region expansion through IBM Cloud partnership.
• VeeamcoreTechnology or IntegrationVerified interoperability between Veeam backup solutions and Wasabi Hot Cloud Storage. Enables enterprise backup and recovery workloads with cost-effective pricing and no egress fees.
• CommvaultcoreTechnology or IntegrationIntegration partnership for enterprise data protection and backup solutions. Commvault customers can use Wasabi as a cost-effective storage target with immutability and ransomware protection.
• CohesitycoreTechnology or IntegrationVerified integration enabling Cohesity customers to leverage Wasabi for secondary storage, backup, and archival with cost advantages over hyperscalers.
• RubrikcoreTechnology or IntegrationIntegration partnership providing Rubrik customers with Wasabi's S3-compatible storage as a ransomware-protected backup destination.
• Pure StoragecoreTechnology or IntegrationExisting alliance deepened through Pure Storage's participation in Wasabi's $70M equity funding round. Partnership addresses surging demand for AI-driven data storage solutions.
• GrayMetacoreStrategic or Co-development PartnerAcquired Curio AI intelligent data platform from GrayMeta in January 2024. Technology expanded Wasabi's data and AI capabilities for media and entertainment customers.
• Seagate TechnologycoreStrategic or Co-development PartnerAcquired Lyve Cloud business from Seagate in April 2026. Seagate received equity stake in Wasabi becoming a shareholder. Deal brings Lyve Cloud's enterprise customer base and infrastructure under Wasabi's S3-compatible platform.

Scale indicators10 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Backblaze: Backblaze B2 is a directly comparable S3-compatible cloud object storage service marketed on low, predictable pricing. Closest analog to Wasabi's hot-tier, no-egress model and a primary alternative in the mid-market and backup segments.
• DigitalOcean: DigitalOcean Spaces is an S3-compatible object storage service aimed at SMBs and developers, competing with Wasabi on simple, predictable pricing. Smaller scale than the hyperscalers but with a similar developer-first go-to-market.
• Cloudflare: Cloudflare R2 is an S3-compatible object storage product explicitly positioned on zero-egress-fee pricing. Competes head-to-head with Wasabi for customers moving off AWS, with Cloudflare's larger edge network providing additional integration leverage.

Emerging players

• IDrive e2: IDrive e2 is an S3-compatible, low-cost object storage service from IDrive. An emerging alternative targeting backup and small-business workloads, with similar no-egress positioning but smaller brand presence and ecosystem than Wasabi.

Regional players

• Scaleway: Scaleway Object Storage is a European-headquartered S3-compatible storage service competing with Wasabi in EMEA. Comparable on price simplicity and S3 compatibility, but primarily a regional alternative for European customers with sovereignty requirements.

Broad incumbents

• Google Cloud Storage: Google Cloud Storage is the third major hyperscaler object storage service. As one of Wasabi's named 'big three' competitors, it competes on price tiers, regional presence, and integration with Google AI/analytics services.
• Amazon Web Services (AWS S3): AWS S3 is the dominant incumbent in object storage and Wasabi's primary competitor. Wasabi's pricing model is explicitly benchmarked against S3, and S3's tiered pricing (Standard, IA, Glacier) and Express One Zone create direct head-to-head competition.
• Microsoft Azure (Blob Storage): Azure Blob Storage is one of the three hyperscaler object storage offerings and a major alternative for enterprise customers, including those migrating from Azure (e.g., Berry College). Microsoft's integrated Azure ecosystem creates strong lock-in that Wasabi must overcome.
• IBM Cloud Object Storage: IBM Cloud Object Storage is both a partner (Wasabi powers storage behind IBM Cloud offerings) and a competitor in the enterprise segment. IBM's enterprise and regulated-industry footprint is a complement that can also cannibalize Wasabi deals.
• Oracle Cloud Infrastructure (Object Storage): Oracle Cloud Infrastructure Object Storage is a hyperscaler-style offering competing for enterprise workloads. Less prominent in the SMB / backup segments where Wasabi is strongest, but a real alternative in Oracle-centric accounts.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/wasabi_cloud
• Facebookfacebook.com/WasabiCloud
• LinkedInlinkedin.com/company/wasabitechnologiesinc

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries2 records

Funding overview

Funding rounds18 records

Investors29 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Wasabi Technologies