Vast Data Secures $118 Million Investment
Vast Data has declared securing $118 million in a Series E funding round, led by Fidelity Ventures and joined by New Enterprise Associates, BOND Capital, Drive Capital, Nvidia, Dell, Goldman Sachs, Tiger Global, Commonfund, Norwest, 83North, Greenfield, and Next47.
This funding round places Vast’s post-money valuation at $9.1 billion, marking a substantial milestone for the startup and accumulating its total raised capital to $381 million. Renen Hallak, co-founder, and CEO of Vast expressed the company’s positive trajectory, attributing the surge in AI interest and the escalating necessity for contemporary infrastructure that can accommodate these workloads as advantageous for Vast’s business growth. He emphasized how Vast’s forward-thinking approach aligns with data-driven organizations seeking a resilient investment for their future business prospects.
Vast originated in 2016, founded by Renen Hallak, Jeff Denworth, Shachar Fienblit (previously in leadership roles at Kaminario and IBM), and Alon Horev (former affiliations with Cisco and IBM). Their collective vision was to create an advanced data management platform utilizing commodity hardware to enable faster access to expansive datasets for AI workloads.
Initially operating in stealth mode until 2019, Vast’s founding team meticulously designed a new storage architecture and software infrastructure layer. This technological innovation paved the way for the company to enter the market and start selling its offerings to customers.
At present, Vast integrates storage, database, and compute engine services within a single platform, specifically engineered to support AI and GPU-accelerated workloads across diverse data centers and cloud environments. Vast’s platform allows customers to manage various data types, including unstructured and structured data, across their preferred private, public, or hybrid clouds. These data formats encompass videos, images, textual data, data streams, and information from edge devices.
