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SAN MATEO, Calif. - Cloud storage provider Backblaze, Inc. (NASDAQ:BLZE), a $299 million market cap company showing impressive revenue growth of 22% in the last twelve months, announced a series of new security enhancements for its platform, including AI-powered anomaly detection and improved enterprise management tools. According to InvestingPro data, the company maintains a healthy gross profit margin of 55%.
The company has introduced Anomaly Alerts, currently in private preview, which uses artificial intelligence to identify suspicious patterns of data activity in storage buckets that could indicate unauthorized access or data exfiltration. While operating with moderate debt levels, Backblaze continues to invest in platform development despite not yet achieving profitability.
Backblaze also unveiled a new enterprise web console with role-based access controls, designed to help larger organizations manage cloud storage more securely and efficiently while aligning with zero-trust security principles.
Other security enhancements now available include Bucket Access Logs, which provide detailed records of operations performed on stored objects, and Event Notifications that deliver real-time alerts on bucket activities such as object creation or deletion.
The company has added Multi-Bucket Application Keys that allow for more granular access control, Scalable Application Keys that can generate up to 10,000 unique short-lived data access keys per minute, and Custom Upload Timestamps to maintain data integrity and meet compliance requirements.
"In today’s evolving threat landscape, robust data security is paramount for businesses," said Gleb Budman, CEO at Backblaze, in a press release statement.
These new features complement Backblaze’s existing security capabilities, which include SOC 2 certified architecture, server-side encryption for data at rest, and Object Lock for ransomware protection.
Backblaze serves over 500,000 customers across 175 countries and positions itself as an alternative to traditional cloud storage providers. Analysts maintain a bullish outlook on the stock, with detailed financial analysis and growth projections available in the comprehensive Pro Research Report on InvestingPro, which covers this and 1,400+ other top US stocks.
In other recent news, Backblaze, Inc. has secured a $20 million senior secured revolving credit facility with Citizens Bank. This credit agreement aims to enhance the company’s liquidity and support its strategic growth initiatives, offering flexibility with a borrowing capacity at competitive interest rates. Additionally, Backblaze has expanded its US-East data center capacity to better accommodate growing demand for AI workflows and high-performance computing. This expansion is designed to support customers seeking alternatives to larger cloud providers, with enhanced connectivity for academic and research institutions. In another development, Backblaze introduced a Legal Hold feature for its Computer Backup service, allowing businesses to preserve backup history without additional costs. The company also announced an executive transition, with Senior Vice President of Engineering Tina Cessna stepping down at the end of August 2025. These developments reflect Backblaze’s ongoing efforts to strengthen its infrastructure and leadership while maintaining strong financial health.
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