Vast Data, a NYC-based flash storage company, raised $100m in Series C funding, at a valuation of $1.2 billion.
The round, which brought total funding raised to date to $180m, was led by Next47 with participation from 83North, Commonfund Capital, Dell Technologies Capital, Goldman Sachs, Greenfield Partners, Mellanox Capital and Norwest Venture Partners.
The company intends to use the funds for expansion of operations and business reach globally.
Led by Renen Hallak, Founder & CEO, Vast Data has developed a flash storage platform that makes flash infrastructure affordable for all classes of data, thereby rendering the hard drive and storage tiering obsolete. The platform is already applied across a number of industries.
Customers include the US National Institutes of Health, Squarepoint, Krystal Hosting, Ginkgo BioWorks, DownUnder GeoSolutions, Harvard Medical School, Zebra Medical, Fortune 500 companies, content creators and many other hedge funds around the world.