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Wasabi CEO David Friend: New $30 Million Funding Round Comes From ‘Family Offices,’ Not Venture Capital

‘Family offices are evergreen. They can stay in an investment as long as they want. Frequently, VCs have a lot of control terms that they like to try to squeeze in, and family offices generally don't want to end up running the company or owning the company,’ the Wasabi CEO tells CRN.

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Can you tell us about the new funding round?

We're announcing we recently completed [a $30 million] round of funding and happy to say that it was completed in probably one of the worst environments I've ever experienced, and at a step up in valuation, which made it even better. I'd say it was probably the most miraculous fundraising that I got done.

When you say a step up in valuation, what do you mean?

The investors paid up a higher price than they did in the last round.

What's Wasabi's new valuation?

We're not talking about valuation, but it's up in the hundreds of millions.

 
 
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