Data storage platform Wasabi announced a $250 million credit facility led by Bain Capital. The company works to make cloud storage more affordable, predictable and secure with infrastructure designed for the AI era.
“This is a more selective private lending market, but we’ve built a strong, disciplined business that continues to attract support from leading financial institutions,” Michael Bayer, Wasabi’s executive vice president and CFO, said in a statement. “We’re investing in our infrastructure to meet growing demand for data, especially as AI and modern applications require scalable, accessible storage.”
Wasabi’s credit facility closely follows the company’s acquisition of Seagate’s Lyve Cloud business and a $70 million equity raise earlier this year. Equipped with the new financing, Wasabi plans to continue investing in its cloud storage platform and fueling global expansion.
