Cloud storage startup Wasabi raises $250 million to achieve unicorn status • TechCrunch

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The cloud services sector is still dominated by Amazon and the other so-called “hyperscalers” – e.g. the Microsoft Azures, Google Cloud Platforms and IBM Clouds of this world. Amazon, Microsoft, and Google combined held a 65% share of the global cloud services market in the second quarter, up 61% year over year, according to Synergy Group, an IT market research firm.

But that sobering fact hasn’t stopped some entrepreneurs from trying to shake things up.

Two at the top are David Friend and Jeff Flowers, co-founders of Wasabi, a cloud startup that offers services that rival Amazon’s Simple Storage Service (S3). Wasabi was introduced just a few years ago, in 2015. Despite that fact, and in the face of intense competition, Wasabi has grown its client base to more than 40,000 organizations and secured notably large tranches of funding – most recently $250 million in a Series D round that closed this morning.

The Series D – this is partial capital ($125 million), …



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