Foley & Lardner LLP represented Wasabi, a hot cloud storage company, in its Series C financing round that attracted $112 million in growth financing from its existing investors. The new round brings Wasabi’s total equity financing to $219 million.
Wasabi’s valuation of the C round was roughly triple the valuation of its most recent equity round, which closed one year ago. In that same period, Wasabi’s revenue and storage under management tripled. Today, Wasabi has 22,000 customers around the globe with data centers in the United States, Europe and Japan. The proceeds from its Series C financing round will be used to expand its international footprint, partner network and internal team across all functions.
The Foley team was led by partner Susan Pravda and included special counsel Michael Callahan and associate E.J. Risley Jr.