Hot cloud storage provider, Wasabi, fuels continued growth with ARR-based financing
Lincoln acted as the exclusive financial advisor to Wasabi, arranging and placing $27.5 million of capital. Funds from the transaction will be used to bolster the company’s infrastructure, including constructing additional data centers in new geographies, to meet accelerating global demand for Wasabi’s affordable, predictable and simple cloud storage solutions.
As Wasabi’s exclusive financial advisor, Lincoln worked closely with Wasabi on all aspects of the transaction helping to structure, arrange and negotiate the financing. David Friend, Chief Executive Officer and Co-founder of Wasabi, stated, “This transformative deal marks Wasabi’s first major institutional debt round, which is an important milestone for our company and mission as we continue to roll out more data centers and bring our unique solutions to more customers around the world. Lincoln executed an efficient process that delivered an excellent outcome for all of our stakeholders while also enabling our management team to focus on executing our growth plan.”
Roger Knight, Managing Director at Lincoln, added, “We are excited to have worked with Wasabi, successfully funding the company’s first ARR-based debt facility. High-growth subscription businesses such as Wasabi continue to benefit from non-dilutive, growth financings, and we look forward to seeing Wasabi further accelerate its growth.”
About Wasabi
Wasabi provides simple, predictable and affordable hot cloud storage for businesses all over the world. It enables organizations to store and instantly access an infinite amount of data at one-fifth of the price of the competition with no complex tiers or unpredictable egress fees. Trusted by customers worldwide, Wasabi has been recognized as one of technology’s fastest growing and most visionary companies. Created by Carbonite co-founders and cloud storage pioneers, David Friend and Jeff Flowers, Wasabi has secured $140 million in funding to date and is a privately held company based in Boston, Massachusetts.
As our advisor and partner in this capital raise, Lincoln was instrumental in driving the outcome, bringing a deep knowledge of the market and extensive lender relationships.
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