Cloud Cybersecurity & Infrastructure Resilience · vs · Specialised AI Accelerators & Silicon
Backblaze vs Verda
Structured technology and market comparison · 2026
Direct Feature Comparison
Backblaze · vs · Verda| Attribute | BABackblaze | VEVerda |
|---|---|---|
| Market Cluster / Sector | Cloud Cybersecurity & Infrastructure Resilience | Specialised AI Accelerators & Silicon |
| Business Model / Role | B2B SaaS Provider · B2C Consumer App / Platform | B2B SaaS Provider |
| Platform Focus | Cloud object storage and backup software for businesses and consumers. | European AI cloud for GPU compute, inference and infrastructure. |
| Company Size | 201–500 employees | 201–500 employees |
| Headquarters | United States | Finland |
| Year Founded | 2007 | 2020 |
| Dossier & Alternatives |
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Comparison Analysis
What is the main difference between Backblaze and Verda?
When comparing Backblaze and Verda, both platforms operate within the Cloud Data Warehouse / Data Lake and B2B SaaS Provider ecosystem. Backblaze is positioned as Cloud object storage and backup software for businesses and consumers, whereas Verda focuses on European AI cloud for GPU compute, inference and infrastructure. Decision-makers evaluate both solutions when orchestrating their commercial monetization and technology stack.
What are the top alternatives to Backblaze and Verda?
When evaluating Backblaze and Verda, enterprise buyers also consider other platforms in Cloud Data Warehouse / Data Lake and B2B SaaS Provider. You can discover the full competitive landscape and evaluate other alternatives by viewing their respective footprint profiles on Polaris7.
How do the corporate scale, structure, and headquarters of Backblaze and Verda compare?
Backblaze is headquartered in United States (founded in 2007) with 201–500 employees. Verda is based in Finland (founded in 2020) with 201–500 employees. Complete ownership, subsidiary trees, and corporate affiliations are documented across Polaris7.
Market Signals
Recent Market Signals & Activity: Backblaze vs Verda
Documented market movements, strategic partnerships, product releases, and regulatory developments mapped across Polaris7.
Backblaze
Recent Signals
- ·SEC APIfinancials
8-K Financial Filing Analysis for Backblaze (2026-08-19)
On August 18, 2026, Backblaze, Inc. announced a proposed private offering of $150 million aggregate principal amount of Convertible Senior Notes due 2031 to qualified institutional buyers under Rule 144A. Net proceeds are earmarked to fund capped call transactions—mitigating potential equity dilution—and for general corporate purposes, including capital expenditures. Concurrently, Backblaze executed a Fourth Amendment to its credit agreement with Citizens Bank, N.A., allowing for the note issuance and capped calls. Upon closing, a Fifth Amendment will upsize its revolving credit facility from $20 million to $50 million, extend the facility's maturity to April 30, 2030, and recalibrate financial covenants by removing the minimum EBITDA threshold and instituting a fixed charge coverage ratio test.
- Proposed private offering of $150 million aggregate principal amount of Convertible Senior Notes due 2031 under Rule 144A.
- Upsizing of revolving credit facility from $20 million to $50 million with Citizens Bank, extending maturity from June 4, 2028, to April 30, 2030.
- Credit covenant restructuring upon closing, introducing a fixed charge coverage ratio test and removing the minimum consolidated EBITDA threshold.
- ·BackblazeProduct & Platform Launch
Backblaze Drive Stats for Q2 2026
Backblaze published its Drive Stats report for Q2 2026, covering 354,415 hard drives after exclusions. The quarterly annualized failure rate rose to 1.73%, while the lifetime AFR reached 1.41%. Seagate models dominated the zero-failure list. The report also discusses the growing share of 20TB+ drives and the implications of CMR, SMR, and HAMR technologies. A related webinar is scheduled for October 8, 2026.
- In Q2 2026, Backblaze monitored 359,101 drives and analyzed 354,415 hard drives after excluding 3,881 boot drives and 705 drives not meeting criteria.
- The quarterly annualized failure rate (AFR) increased to 1.73% for the period April 1–June 30, 2026; the lifetime AFR rose to 1.41% as of June 30, 2026.
- Zero-failure drive models in Q2 2026 were all Seagate: ST8000NM000A (8TB), ST12000NM000J (12TB), and ST14000NM000J (14TB); one failure was recorded for the Seagate ST16000NM000J (16TB).
- ·SEC APIfinancials
8-K Financial Filing Analysis for Backblaze (2026-08-24)
Backblaze, Inc. priced an upsized offering of $201.25 million aggregate principal amount of 0.00% Convertible Senior Notes due 2031, following the full exercise of the initial purchasers' $26.25 million greenshoe option. The zero-coupon unsecured notes mature on August 15, 2031. To mitigate potential equity dilution, Backblaze allocated approximately $17.5 million of the net proceeds into capped call transactions with an initial cap price of $33.76 per share—a 100% premium over its $16.88 reference price. Concurrently, the company expanded its financial flexibility by amending its credit facility with Citizens Bank, N.A., increasing its senior secured revolving credit line from $20 million to $50 million, extending maturity to April 30, 2030, and removing the minimum consolidated EBITDA threshold.
- Backblaze priced $201.25 million of 0.00% Convertible Senior Notes due August 15, 2031, which includes the full exercise of the $26.25 million initial purchasers' option.
- The company funded $17.5 million in capped call transactions featuring an initial cap price of $33.76 per share (a 100% premium to the $16.88 reference price) to hedge against conversion dilution.
- The Fifth Amendment to the Citizens Bank credit agreement expanded the revolving credit facility from $20 million to $50 million, extended maturity to April 30, 2030, and replaced the EBITDA minimum with a fixed charge coverage ratio test.
Verda
Recent Signals
- ·Tech.eu (European Tech & Deals)Infrastructure
Verda Raises $189M to Expand AI Cloud and Compute Capacity
European AI cloud company Verda, formerly DataCrunch, has raised $189 million (€164.8 million) in Series B funding, propelling it to unicorn status with a valuation over $1 billion. The oversubscribed round was led by Emergence Capital, with participation from MUFG Innovation Partners, Supermicro, Varma, Lifeline Ventures, 6 Degrees Capital, byFounders, Tesi, and angel investors including Ola Tørudbakken and Mark Saroufim. This brings Verda's total funding to over $450 million (€392.3 million). The company plans to scale its full-stack AI cloud, accelerate product development, multiply compute capacity, and expand internationally, including deploying Nvidia's upcoming VR200 NVL72 generation. Verda's renewable-powered data centres in Finland support its operations across Europe, the US, and Asia. The company reported an annualized revenue run rate of $165 million (€143.85 million) in July 2026, serving customers in over 50 countries.
- Verda raised $189 million (€164.8 million) in Series B funding led by Emergence Capital.
- The funding values Verda at over $1 billion, making it Europe's latest unicorn, with total funding exceeding $450 million (€392.3 million).
- Investors include MUFG Innovation Partners, Supermicro, Varma, Lifeline Ventures, 6 Degrees Capital, byFounders, Tesi, and angel investors.
- ·Tech.eu (European Tech & Deals)Funding
Finland's top-funded tech companies H1 2026
In H1 2026, European tech funding demonstrated a strong focus on AI and space technology, with significant concentration in large transactions. Finland attracted approximately €1.3 billion across 53 deals, led by ICEYE's €900 million raise. Across Europe, top AI companies secured substantial funding, including Ineffable Intelligence ($1.1B), Advanced Machine Intelligence ($1B), Mistral AI ($830M debt), and ElevenLabs ($561M Series D). The UK led in funding value and deal count, followed by France and Germany. Investments supported AI models, computing hardware, data infrastructure, and applications in healthcare, manufacturing, and finance. Early-stage rounds complemented mega-deals, reflecting strength in research-intensive sectors.
- Finland's tech ecosystem raised ~€1.3 billion across 53 deals in H1 2026, with ICEYE securing €900 million.
- European AI funding saw mega-rounds: Ineffable Intelligence ($1.1B), AMI Labs ($1B), Mistral AI ($830M debt), and ElevenLabs ($561M Series D).
- The UK led Europe in AI funding value and deal count, followed by France and Germany.
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