Wasabi Named a “Contender” in IDC MarketScape Public Cloud Storage Services 2020 Vendor Assessment

Wasabi recognized for straightforward pricing model and consistent growth

BOSTON, MA, Oct. 08, 2020 (GLOBE NEWSWIRE) -- Wasabi, the hot cloud storage company, today announced it has been named a Contender in the IDC MarketScape Public Cloud Cold Storage Services 2020 Vendor Assessment (Doc # US46855520, September 2020). The report noted, “Wasabi is unique in the broader public cloud IaaS market because it offers a storage service that meets the definitions for both "hot" and "cold" in terms of access and cost requirements, all under a single price point — no other provider in this IDC MarketScape does this.”

In its assessment of public cloud storage service vendors, the IDC MarketScape recognized Wasabi for its infrastructure, customer reach, embedded technology, and growing partnerships. The IDC MarketScape also noted Wasabi’s flexibility to accommodate a range of storage workloads without compromising speed and the lack of ingress/egress fees or additional costs for data access as key value propositions.

According to the report, “Wasabi's core strengths and differentiators in the cold storage market lie in the platform's simplicity and speed. The vendor offers a single storage tier with a single price. This means that customers do not have to manage ingress/egress fees or additional costs for data access. This is an extremely attractive value proposition, specifically in the cold storage market where the cost of storage remains a major sticking point for customers. Wasabi builds onto this value proposition with features normally associated with ‘hot’ storage, like millisecond access time for objects and enterprise-class data availability and durability[…]this approach is what makes Wasabi such a unique and versatile provider in the cold storage market.”

"As companies collect and analyze more data, cloud cold storage platforms become increasingly important as a means to cost-effectively store, manage, and protect this data," said Andrew Smith, research manager, Cloud Infrastructure Services at IDC. "Wasabi has proven its success in this market segment, demonstrating consistent growth of its direct customer base and channel partner ecosystem over the past three years. Wasabi's focus on price simplicity and S3 API compatibility has become a recipe for success in the cloud cold storage market, particularly with storage software and services providers, who can quickly and cost-effectively integrate Wasabi as their cloud-based object storage back end."

“It is incredibly gratifying for the IDC MarketScape to include Wasabi alongside some of the world’s largest, best-known technology brands,” said David Friend, Wasabi CEO, and co-founder. “Unlike those companies, however, Wasabi is focused on doing one thing really well: cloud storage. We’re proud of the recognition which is particularly critical as we build out both our technology infrastructure and our partner ecosystem and more.”

The IDC MarketScape’s recognition is the latest in a series of milestones for the company, following Wasabi’s recent $30 million funding round. Wasabi continues to expand its ecosystem, working with more than 3,100 total channel partners and over 200 technology partners to reach more than 18,000 customers. Last month, IT research firm Nucleus Research published a report touting Wasabi as a “progressive vendor” and a leading AWS alternative.

For more information about Wasabi, please visit https://wasabi.com/.

About IDC MarketScape

IDC MarketScape vendor assessment model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.

About Wasabi

Wasabi provides simple, predictable, and affordable hot cloud storage for businesses all over the world. It enables organizations to store and instantly access an infinite amount of data at 1/5th the price of the competition with no complex tiers or unpredictable egress fees. Trusted by customers worldwide, Wasabi has been recognized as one of technology's fastest-growing and most visionary companies. Created by Carbonite co-founders and cloud storage pioneers David Friend and Jeff Flowers, Wasabi has secured $110 million in funding to date and is a privately held company based in Boston.

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