Wasabi raises $68 million for cloud storage

Wasabi, a start-up based in Boston, raised $68 million in Series B funding for its cloud storage solutions.

Wasabi says its cloud storage is 80% cheaper and 6x faster than Amazon S3, with 100% data immutability protection and no data egress fees. The company was founded by David Friend and Jeff Flowers, who also co-founded Carbonite. Wasabi says it has picked up over 3,000 customers in the past year.

“The Series B financing will allow Wasabi to expand internationally, continue to invest in our brand, and enable us to compete for the largest storage deals in the world. Our objective is to make Wasabi into one of the world’s most renowned cloud storage vendors,” stated David Friend, Co-founder & CEO of Wasabi.