Backblaze, which provides cloud storage for consumers and SMBs, raised $100 million by offering 6.3 million shares at $16, the midpoint of the $15 to $17 range.
Backblaze states that it is a leading storage cloud platform, providing businesses and consumers cloud services to store, use, and protect their data. It provides these cloud services through a purpose-built, web-scale software infrastructure built on commodity hardware. The company has attracted over 480,000 customers, who use its Backblaze Storage Cloud platform across more than 175 countries on its approximately 2 exabytes, or 2 trillion megabytes, of data storage under management.
Backblaze plans to list on the Nasdaq under the symbol BLZE. Oppenheimer & Co., William Blair, Raymond James, JMP Securities, and B. Riley Securities acted as joint bookrunners on the deal.
