Backblaze is a publicly traded cloud storage and data backup company (Nasdaq: BLZE) that builds affordable, user-friendly solutions for data protection and storage. Its core products—Backblaze Backup for unlimited computer backups and B2 Cloud Storage for scalable object storage—serve individuals, businesses, and developers, solving the problems of complex, expensive, and vendor-locked cloud services.[1][2][3] With over 500,000 customers in 175 countries, Backblaze emphasizes simplicity, low cost, and reliability, reporting milestones like over 1 exabyte of data under management and 20% international subscriber growth in 2024.[1][3][6]
The company bootstrapped with minimal funding until its 2021 IPO, enabling rapid scaling from petabytes to exabytes of storage while maintaining profitability and transparency.[3][7][8]
Backblaze was founded in 2007 by five co-founders—led by Gleb Budman—after they had collaborated for 20 years building prior companies. Starting in a one-bedroom Palo Alto apartment, they aimed to create a fair business for customers, employees, investors, and the community, driven by frustration with costly cloud storage.[3][5][6] The idea emerged from needing affordable backups for everyday users; they couldn't find options at their price point, so they built their own multi-petabyte system.[5]
Early traction came in 2008 with the launch of computer backup for macOS and Windows, following a modest first blog post that built a community.[2][6] Pivotal moments included open-sourcing their Storage Pod design to prove unlimited $5/month storage worked, navigating a 2011 Thailand flood by shucking drives for supply, and launching B2 Cloud Storage in 2015.[5][7] By 2021, they went public via IPO, marking evolution from bootstrapped startup to global player.[2][3][8]
Backblaze rides the explosion of data growth from AI, media, and digital transformation, where enterprises need cost-effective alternatives to hyperscalers like AWS amid rising storage demands.[3][4] Its timing aligns with cloud fatigue—lock-in and high costs—positioning it as an independent provider enabling innovation for SMBs and developers.[1][3]
Market forces like exploding data volumes (from petabytes to exabytes) and privacy concerns favor its transparent, secure model, with 20% international growth reflecting global demand.[1][6] Backblaze influences the ecosystem by democratizing storage via open-source contributions, partnerships (e.g., Catalogic in 2022), and reliability data that informs hardware standards.[2][5]
Backblaze is poised for accelerated growth through AI-driven storage needs, international expansion, and B2 enhancements for high-performance workflows. Trends like edge computing and data sovereignty will amplify its independent appeal, potentially doubling customers as it leverages public status for investments.[1][3][8]
Its bootstrapped roots and transparency ethos will evolve influence, challenging hyperscaler dominance while empowering ecosystems—proving simple, fair storage can scale globally, true to its mission of making data unstoppable.[3][6]
Backblaze has raised $5.0M in total across 1 funding round.
Backblaze's investors include Tmt Investments.
Backblaze has raised $5.0M across 1 funding round. Most recently, it raised $5.0M Series A in July 2012.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Jul 1, 2012 | $5.0M Series A | Tmt Investments |
