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$250m Wasabi Technologies funding will ‘usher in the future of cloud storage’

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Wasabi Technologies, a cloud storage company, has achieved unicorn status following $250 million in new funding.

Wasabi raised $125 million in Series D equity led by L2 Point Management with participation from Cedar Pine; an affiliate of Cerberus Capital Management; and returning investors including Fidelity Management & Research Company and Forestay Capital, bringing the company’s valuation to over $1.1 billion. Wasabi also expanded its existing debt facility with MGG Investment Group to $125 million. Barclays acted as sole placement agent on the transaction.

Wasabi provides fast, affordable, and highly reliable cloud data storage for businesses all over the world at 1/5th the cost of large hyperscale providers or on-premises storage, with no charges for egress or API requests and no complex tiering. The company’s revenues more than doubled from 2020-2021, and Wasabi now has more than 40,000 customers in over 100 countries, 13,000 partners, 250+ global employees and 13 storage regions across North America, Europe, and Asia Pacific.

The new equity will drive expansion into additional vertical markets and geographies, enhance Wasabi’s channel partnerships, and scale the company’s go-to-market team and global brand strategies. Meanwhile, the debt will be used to finance capital equipment and infrastructure in Wasabi’s storage regions around the world, and to invest in Wasabi’s technology capabilities to lay the groundwork for a new generation of cloud storage architecture.

David Friend, co-founder and CEO of Wasabi Technologies, said: “Closing a large up round in this environment speaks to the spectacular growth of Wasabi, the magnitude of the cloud storage opportunity, and our leadership as the industry’s largest pure-play cloud storage vendor. At Wasabi, we focus on just one thing: cloud storage. We do it better than anyone else in the industry. Because of this singular focus, our team has achieved best-in-class performance and security at the lowest prices in the industry.”

Kerstin Dittmar, managing partner of lead investor L2 Point, will join Wasabi’s Board of Directors, said: “Wasabi provides a game-changing product that offers customers a simpler, faster, and significantly more economical solution to their cloud data storage needs. We believe this capital raise will allow Wasabi to continue to expand its offering across additional services and geographies to meet their global customers’ needs.”

Sam Barnett, executive chairman of Cedar Pine, said: “We are proud to partner with Wasabi to provide innovative solutions in cloud storage and security. The importance of Wasabi’s technology is increasing in every industry.”

Kevin Griffin, CEO of MGG Investment Group, said: “We seek to partner with best in class entrepreneurs and companies and are excited to continue supporting Wasabi Technologies and their global expansion.”

In addition to the industry-leading performance of Wasabi hot cloud storage, the company partners with over 350 technology companies, including most of the world’s leading backup, disaster recovery, and surveillance companies. Wasabi is used to store data across a wide range of industries, including professional sports, energy and natural resources, finance, surveillance, education, manufacturing, consumer technology, healthcare, scientific research, and media and entertainment. 

Brian Shield, senior VP and CTO of the Boston Red Sox, said: “As our data needs continue to evolve, from player analytics, IoT, digital assets and even security, this presents an enormous learning opportunity for the organisation.

“Wasabi provides a cost-effective cloud-based solution that enables us to retrieve content quickly and improve the level of video analysis and production we do here at the Red Sox.”

Tags: funding, Storage


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BT brings 5G and the cloud to businesses on the move with AWS Wavelength

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Cloud Computing News

BT has confirmed it is making a multi-million-pound investment to bring 5G and 4G mobile edge computing services to its UK business customers in collaboration with Amazon Web Services (AWS).

The work combines AWS’s cloud expertise with BT’s market-leading 5G and 4G infrastructure. EE’s national mobile network with AWS Wavelength will bring the power of AWS to the network edge for more business and public sector customers across the UK – opening up faster, secure and high-bandwidth connectivity on the move for use cases like policing, crowd management, healthcare and security.

The effort is part of BT’s investment in its existing mobile networks, to enable 5G-connected infrastructure as a service via AWS Wavelength. This includes switching on a new AWS Wavelength Zone in Manchester, which will service trials for eligible businesses and public sector organisations within a 100-kilometre radius (including cities such as Liverpool, Leeds, Sheffield and Blackpool). BT’s ambition is to roll out AWS Wavelength to business customers across the UK more broadly in the coming years.

AWS Wavelength embeds AWS compute and storage services within 5G and 4G networks, providing mobile edge computing infrastructure for ultra-low-latency applications. Hosting services directly at the edge of EE’s UK network reduces lag, as application traffic can reach application servers running in the AWS Wavelength Zone without leaving BT’s network. This opens up mobile edge computing infrastructure for businesses to develop, deploy, and scale mobile Internet of Things (IoT) applications over BT’s existing 5G network securely.

The collaboration aims to enable high-speed, latency-sensitive and intensive 5G connectivity for BT customers looking to benefit from high-bandwidth IoT use cases in the field. This includes autonomous vehicles, cameras for policing and other public services to help protect communities, live media production for outside broadcast, smart industrial robots, and use in community healthcare (such as in care homes to monitor for falls and accidents).

BT’s Wholesale unit has worked with AWS on the initial trials in Manchester. After the planned national rollout, the service will be available to all BT business customers in the UK – from small businesses to large enterprise and public sector organisations.

Alex Tempest, MD for BT Wholesale, said: “As we continue to build best-in-class 5G infrastructure for the UK, launching the AWS Wavelength service for our business and wholesale customers is a hugely important step on our journey – bringing the power of the cloud to the UK’s best network*. It’s set to unlock use cases like IoT cameras to help first responders keep communities safe: a real-life example of using tech to connect for good.

“By building cloud edge services into our 5G and 4G EE network, we can accelerate innovation across industries, and bring fast, secure data processing closer to where our customers need it most. Ultimately, we want to give businesses and public sector organisations all the power of edge computing, wherever they are.”

Want to learn more about cybersecurity and the cloud from industry leaders? Check out Cyber Security & Cloud Expo taking place in Amsterdam, California, and LondonExplore other upcoming enterprise technology events and webinars powered by TechForge here.

Tags: 5G, AWS, BT

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How Artificial Intelligence Can Bring People Together

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How Artificial Intelligence Can Bring People Together

Artificial intelligence (AI) enables people to spend more time with those that matter the most.

AI is bringing people together, whether it’s assisting in the planning of a family vacation, getting to a place securely, allowing everyone to see each other on a video call, or making gift shopping a little easier.

The continuous evolution of AI has the potential to revolutionize the way we live, work, and interact with each other.

While AI is often portrayed as a divisive force that could lead to job losses and social inequality, it also has the power to bring people together and create new opportunities for collaboration and cooperation. In this article, we will explore some of the ways in which AI can be used to bridge social, cultural, and linguistic barriers and foster greater understanding and empathy among diverse communities.

1. Breaking Down Language Barriers

Breaking_Down_Language_Barriers.png

Source: Nature Magazine

One of the most significant benefits of AI is its ability to facilitate communication across different languages. Machine learning algorithms can now accurately translate spoken or written language in real-time, allowing people who speak different languages to communicate with each other more easily. This technology has been particularly valuable for businesses operating in global markets, enabling them to connect with customers and partners from different regions and cultures.

The benefits of AI-powered translation extend beyond the business world. For example, the United Nations has been using AI-powered translation to help bring together representatives from different countries and facilitate discussions on important global issues. By breaking down language barriers, AI is helping to promote greater collaboration and understanding among people from diverse backgrounds.

2. Enhancing Cross-Cultural Empathy

Another way in which AI can bring people together is by enhancing cross-cultural empathy. Artificial intelligence can be combined with virtual reality (VR) and augmented reality (AR) technologies to enable people to experience different cultures and perspectives in a more immersive and engaging way. By simulating real-world scenarios and environments, AI can help people to better understand and appreciate different cultures, religions, and ways of life.

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Source: Science Direct

AI-powered chatbots are also being used to promote cross-cultural empathy. These chatbots are programmed to engage in conversations with users from different cultures and backgrounds, using natural language processing and machine learning algorithms to understand and respond to different communication styles and cultural norms. By promoting greater empathy and understanding, AI-powered chatbots can help to break down social and cultural barriers and foster greater social cohesion.

3. Improving Access to Healthcare

AI is also being used to improve access to healthcare, particularly in underserved and marginalized communities. For example, AI-powered diagnostic tools can help to identify diseases and conditions more accurately and quickly than traditional diagnostic methods. This technology is particularly valuable in developing countries, where access to healthcare is often limited, and where the burden of disease is highest.

Improving_Access_to_Healthcare.png

Source: Deloitte

In addition, AI-powered chatbots and virtual assistants are being used to provide healthcare information and support to patients in remote or underserved areas. These chatbots can answer common medical questions, provide basic health advice, and even monitor patients’ symptoms and suggest appropriate treatments. By improving access to healthcare, AI is helping to promote better health outcomes and reduce healthcare disparities, bringing people together by improving the quality of life for everyone.

4. Promoting Social Inclusion

Artificial intelligence can help to promote social inclusion by creating new opportunities for people with disabilities and other marginalized groups. For example, AI-powered assistive technologies can help people with visual or hearing impairments to navigate their environment more easily, communicate with others, and access information more effectively. These technologies can also help to break down barriers to education and employment, providing new opportunities for people who might otherwise be excluded from these areas.

Promoting_Social_Inclusion.png
Source: McKinsey

AI-powered social networks and online communities can also help to bring people with similar interests and experiences together, regardless of their physical location or social background. These communities can provide a sense of belonging and support, and can help to break down social barriers by connecting people who might not otherwise have the opportunity to interact with each other.

Conclusion

Artificial intelligence has the potential to bring people together in a variety of ways, from breaking down language barriers to promoting social inclusion and empathy. By harnessing the power of AI, we can create a more connected and inclusive society, where people from diverse backgrounds can come together to collaborate, learn from each other, and share their experiences.

It is important to state that AI is not a panacea for social problems. Like any technology, AI can be used for both good and bad purposes, and its impact depends largely on how it is developed and deployed. It is therefore essential to ensure that AI is developed in a responsible and ethical manner, taking into account the potential risks and unintended consequences of its use.

Moreover, it is important to recognize that AI is not a substitute for human interaction and connection. While AI can help to facilitate communication and understanding across different cultures and languages, it cannot replace the depth and richness of face-to-face interaction and human connection.

Artificial intelligence has the potential to bring people together and create a more connected and inclusive society. By breaking down barriers to communication, promoting cross-cultural empathy, improving access to healthcare, and promoting social inclusion, AI can help to foster greater understanding, collaboration, and social cohesion. However, it is important to ensure that AI is developed and deployed in a responsible and ethical manner, and to recognize that it is not a substitute for human interaction and connection.

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How to Reverse Video with 5 Free Video Editing Software

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How to Reverse Video with 5 Free Video Editing Software

With so many professional video makers available on the market, it becomes a daunting task to select suitable software for creating a reversed video.

We have rounded up the most popular video editors suitable for professionals with different levels of experience. You can leverage them to produce top-level content without wasting much time.

You_can_leverage_them_to_produce_top-level_content_without_wasting_much_time.png

#1 Movavi

Regardless of the operating system you prefer, this free video reverser is exactly what you need if you prioritize quality and a streamlined interface. After downloading and installing it on your device, you just need to add a video clip that you want to edit by dragging and dropping it onto the timeline. Then, click on the Properties icon and tick the Reverse box. Once you have previewed the result, save it in any supported format that you need to use. The program supports MP4, WMV, MKV, and 3GP formats, among many more.

#2 iMovie

This widely-used video editor stands out for its high-fidelity filters. Using it, you can produce professional-looking reverse clips for improving the online presence of your brand and developing your business. It supports quick file sharing to social media networks and comes with handy file management tools. To reverse your clip, you just need to go to the Project browser, select a video, and double-click on it to open the Clip inspector. Then, you need to select the Reverse checkbox and confirm your choice.

#3 Kinovea

You can use this reverse video editor without paying a dime to perform basic video enhancement tasks. As 97.8% of internet users in the U.S. aged between 18 and 24 years enjoy watching videos online, it becomes crucial to use video editing tools to reach out to a younger audience. Kinovea has a special feature in the Motion menu for creating a reverse effect. You can preview the changes on the main screen. Once you are satisfied with the result, go to the File menu and click Save.

#4 Adobe Premiere Pro

Being one of the most advanced programs for editing videos, Adobe Premiere Pro is included in the Creative Cloud package, which makes it quite affordable. It integrates with other Adobe products, which makes it perfect for professionals and beginners alike. Besides enhancing your videos by adding to them transitions, you can use this software to achieve a reverse video effect.

#5 Blackmagic DaVinci Resolve Studio 18

While you can access this powerful video editor for free, it also has a paid version. It allows you to perform color-grading like a pro, reverse your clips, and edit 8K footage. You just need to right-click on your video, select the option Change Clip Speed, and tick the Reverse Speed checkbox to achieve the desired effect.

Summing Up

Using these free tools, you can quickly reverse your videos to create attention-grabbing content for your followers and subscribers. This effect is easy to emulate even if you don’t have extensive experience in video editing. Using this technique, you can bring your point across more efficiently and create viral videos for your target audience.

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