# Wasabi **Source:** https://geo.sig.ai/brands/wasabi **Vertical:** Infrastructure **Subcategory:** Cloud Services **Tier:** Challenger **Website:** wasabi.com **Last Updated:** 2026-04-14 ## Summary Cloud object storage at 80% less than AWS S3 with no egress fees; S3-compatible platform serving 50K+ customers in media, backup, and AI data storage workloads. ## Company Overview Wasabi Technologies is a cloud object storage company providing hot cloud storage at approximately 80% less cost than Amazon S3, competing on price, performance, and simplicity for customers who need to store and access large volumes of data in the cloud. Founded in 2015 in Boston, Massachusetts by David Friend and Jeff Flowers (both serial entrepreneurs who previously founded Carbonite), Wasabi has raised approximately $500 million and positioned itself as the lowest-cost alternative to AWS S3, Google Cloud Storage, and Azure Blob Storage for high-volume data storage needs. Wasabi's pricing model eliminates the egress fees and API request charges that make AWS S3 total cost of ownership significantly higher than storage cost alone. At flat storage pricing of approximately $7/TB/month with no additional fees, Wasabi's total cost is typically 60-80% less than equivalent AWS S3 usage for customers who move data frequently. The platform is S3 API-compatible, meaning existing applications built for Amazon S3 can switch to Wasabi without code changes. In 2025, Wasabi serves over 50,000 customers in media and entertainment (storing video archives, editing proxies, finished files), backup and disaster recovery, healthcare data archiving, and AI/ML training data storage — verticals where data volumes are massive and cost efficiency matters. The company competes with AWS S3, Backblaze B2, Cloudflare R2 (which also offers zero-egress pricing), and MinIO (self-hosted object storage) for different customer segments. Cloudflare R2's entrance with zero-egress pricing has intensified competition. Wasabi's 2025 strategy includes expanding its global data center footprint (now with regions in US, Europe, Japan, Australia), deepening ISV and reseller partnerships, and targeting AI infrastructure workloads as a cost-effective training data repository. ## Frequently Asked Questions ### What is Wasabi? Wasabi is a hot cloud storage company founded in 2017 and based in Boston, Massachusetts. It achieved unicorn status in September 2022 with a valuation exceeding $1.1 billion and provides S3-compatible object storage at significantly lower costs than major cloud providers. ### What products and services does Wasabi offer? Wasabi offers hot cloud storage that is S3-compatible, along with Wasabi Fire for high-performance storage needs. All services include object storage with no egress fees, no API request charges, and S3 API compatibility. ### How much does Wasabi cost compared to other cloud providers? Wasabi's standard hot storage costs $5.99 per TB per month, which is 80% cheaper than AWS, Azure, and Google Cloud. Wasabi Fire, their high-performance option, costs $19.99 per TB per month, which is 5.6 times cheaper than S3 Express, with no egress or API fees. ### When was Wasabi founded and where is it located? Wasabi was founded in 2017 and is headquartered in Boston, Massachusetts. ### How much funding has Wasabi raised? Wasabi has raised a total of $341.4 million in funding. This includes a $250 million Series D round in September 2022 and a recent $32.5 million raise in October 2024 for AI storage expansion. ### What are Wasabi's key achievements and metrics? Wasabi achieved unicorn status with a $1.1 billion+ valuation in September 2022 and serves between 23,000 to over 100,000 customers. Revenue grew to $160.1 million in 2024, up from $134.7 million in 2023. ### What technology does Wasabi use? Wasabi's storage is S3-compatible and supports AWS IAM APIs, making it easy to integrate with existing cloud workflows. The platform focuses on providing affordable hot storage as an alternative to major hyperscalers like AWS, Azure, and Google Cloud. ### Who should use Wasabi's storage services? Wasabi is ideal for organizations and businesses looking for affordable hot cloud storage without egress or API fees. With 23,000+ customers, it serves companies seeking cost-effective alternatives to AWS, Azure, and Google Cloud for their storage needs. ### What is Wasabi Fire? Wasabi Fire is Wasabi's high-performance storage solution launched in 2024-2025, priced at $19.99 per TB per month. It is 5.6 times cheaper than Amazon S3 Express and includes no egress or API fees. ### What are Wasabi's most recent developments? In October 2024, Wasabi raised $32.5 million specifically for AI storage expansion. The company also launched Wasabi Fire and grew revenue to $160.1 million in 2024, representing growth from $134.7 million in 2023. ## Tags b2b, platform, cloud-native, infrastructure, saas --- *Data from geo.sig.ai Brand Intelligence Database. Updated 2026-04-14.*