Wasabi has been refinanced and raised growth capital
Wasabi
Wasabi is a leading provider of S3-compatible “hot” cloud object storage, built to compete with today’s hyperscalers for efficient and reliable storage. Over the past decade, Wasabi has built a high-growth business around scalable, predictable cloud storage with no egress or API request fees. Customers in over 100 countries, from Cornell University to Liverpool Football Club, trust Wasabi to keep their data secure while meeting compliance standards at its 16 global storage regions. The company continues to innovate and develop new storage classes and data resiliency capabilities designed to support the evolving performance, scalability and reliability requirements of AI and machine learning workloads.
The Deal
On the heels of a highly successful Series D-1 equity raise, Wasabi engaged Lincoln International as the exclusive investment banking representative to arrange committed debt capital to support the company’s continued investment and expansion. Given the scale of the company and Wasabi’s near-term growth targets, Wasabi had outgrown its credit facility and was seeking a structure and partners to finance its next phase of growth. Lincoln worked hand-in-hand with the company throughout the process to secure an attractive financing solution, despite an uncertain software lending environment.
Our Perspective
Justin May, Managing Director at Lincoln International who led the refinancing effort, commented, “Lincoln values its strategic partnership with Wasabi, and we were thrilled to deliver another great outcome for the team. It has been a pleasure to support Wasabi through multiple phases of growth. We are excited to see the company’s continued success as it executes its growth plan, supported by its new capital partners.”
Lincoln helped us bring in highly credible and respected investors, which speaks volumes not just to the company, but also the counsel that the Lincoln team provided to us and to the lenders to make this successful. I can truly say Lincoln served as our trusted partner in this effort.
Meet our Senior Team in Capitol Advisory
View More Transactions in Capitol Advisory
Any information or testimonials contained in this post may not be representative of the experience of other clients and is no guarantee of future performance or success.