Wasabi highlighted for its low-cost, high-performance cloud storage infrastructure, customer and partner growth, and global expansion
Wasabi Technologies, the hot cloud storage company, today announced that global research firm IDC has recognized Wasabi as a company “Who Shaped the Year” in its Worldwide Public Cloud Infrastructure as a Service Market Shares, 2020 Report (Doc #US47350821e, July 2021). This IDC report presents the global public cloud infrastructure as a service (IaaS) market, which grew to $65.5 billion in 2020 as enterprises pivoted to support distributed workforces and digital interactions with customers while generating more data than ever before.
In IDC’s assessment of the worldwide public cloud IaaS market, Wasabi is highlighted for its infrastructure and performance, consistent growth across customers and partners, affordability, and ease of use. According to the report, “Wasabi entered the IaaS market with a focus on low-cost, high-performance object storage. The vendor’s approach has proved a recipe for success, particularly with storage software and services providers that can quickly and cost effectively integrate Wasabi as their cloud-based object storage back end.”
The IDC IaaS Market Share recognition comes on top of a banner year for Wasabi. The company closed $137M in Series C financing, bringing its total funding to nearly $275 million. 2021 has also seen the company grow to 25,000 customers and 6,000 channel partners worldwide, and surpass one Exabyte of storage deployed globally. Wasabi also expanded its global footprint with data centers across the United States, Europe, and most recently Japan – part of the region that experienced the fastest market growth in IDC’s research at 38%.
“The public cloud IaaS market is a massive, high-growth IT infrastructure segment – topping $65.5 billion in 2020. However, it is an extremely difficult market for new entrants to establish themselves – especially pureplay providers,” said Andrew Smith, research manager, Cloud infrastructure Services at IDC. “Wasabi is one of few vendors that has successfully broken into the IaaS market, establishing a significant customer and partner base in public cloud storage. As enterprises continue to expand their reliance on stored data and cloud services; Wasabi will remain well positioned for growth, striking a unique balance between high-performance and low-cost object storage which appeals to a wide range of enterprises, partners, and use cases.”
“Wasabi was founded to take the complexity out of cloud storage performance and pricing and to make it more reliable and transparent. As 2020 forced us all to reimagine how we work and conduct business, low-cost, reliable and scalable cloud storage is more important than ever,” said David Friend, CEO and Co-Founder of Wasabi. “This recognition from IDC alongside some of the world’s most well-known technology companies validates our more simplified and predictable approach to cloud storage. With our recent funding, revenues tripling each of the last three years, and exponential partner and customer growth, we’re well-positioned to grow our leadership in the IaaS market.”
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