Backblaze is a publicly owned company headquartered in the US. Founded in 2007, it employs approximately 330 individuals and primarily focuses on software development. The company provides cloud storage services, including Backblaze B2 Cloud Storage, which enables customers to store data, developers to build applications, and partners to expand their use cases.
Backblaze's stock rose 14.1% on July 10, 2026, after the company announced in early July a multi-year agreement with CoreWeave. This deal, valued at US$335 million in total contract value, provides hard-disk-drive cloud storage for AI workloads and is expected to become a major pillar of Backblaze's B2 cloud business. Also on July 10, Backblaze published its Q1 2026 Drive Stats report, which noted that 92% of newly deployed hard drives now exceed 20TB to support increasingly data-intensive AI workloads. Two days prior, on July 8, Backblaze participated in the RAISE Summit in Paris, emphasizing the need for storage specifically engineered for GPU workloads, rather than relying on traditional cloud infrastructure, for AI applications. This advocacy followed the company's $335 million AI infrastructure deal with CoreWeave, which led Lake Street analyst Eric Martinuzzi to raise Backblaze's price target to $14 from $11 on June 24, while maintaining a Buy rating.
Backblaze's customers primarily consist of iT Services and IT Consulting, online Audio and Video Media and insurance companies. Examples of Backblaze's customers include Coalition, Cologix and Complex Networks. Backblaze has commercial and technical partners like Ortana Media Group, Vultr and MASV. Examples of Backblaze's suppliers include Ivo and Cologix.
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