New Funding and Huge Valuation for VAST Data

AI data platform company VAST Data has secured $118m in Series E Funding, valuing the company at $9.1bn. The money will help it expand in Asia Pacific, the Middle East and Europe, and support its mission to put data 'at the center of how systems think, react and discover'.

The round was led by Fidelity Management & Research Company, with support from New Enterprise Associates (NEA), BOND Capital and Drive Capital.

The VAST Data Platform promises users the ability to 'understand all data, both structured and unstructured as it exists in the natural world, to generate superior insights and unlock new value'. CEO Renen Hallak comments: 'To be truly impactful in this era of AI and deep learning, you not only want to have a lot of data, but also high quality data that is correctly organized and available at the right place, at the right time. The VAST Data Platform delivers AI infrastructure that opens the door to automated discovery that can solve some of humanity's most complex challenges'.

During 2023 the company has passed $1 billion in cumulative software bookings, achieving year-on-year growth of 230%; cemented partnerships with companies including CoreWeave, Lambda, NVIDIA and Core42; and grown its headcount to more than 700 employees worldwide. In April it agreed a strategic partnership with HPE, helping enterprise customers manage unstructured data with high performance at scale to deliver faster insight.

Launched in 2019, the company is online at www.vastdata.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.