$250m Wasabi Technologies funding will ‘usher in the future of cloud storage’

Wasabi Technologies, a cloud storage company, has achieved unicorn status following $250 million in new funding.

Wasabi raised $125 million in Series D equity led by L2 Point Management with participation from Cedar Pine; an affiliate of Cerberus Capital Management; and returning investors including Fidelity Management & Research Company and Forestay Capital, bringing the company’s valuation to over $1.1 billion. Wasabi also expanded its existing debt facility with MGG...