Vast Data, a NYC-based storage software company, raised $83m in Series D funding at a post-money valuation of $3.7 billion.
The round was led by Tiger Global Management, with participation from NVIDIA and several other existing investors.
Led by Renen Hallak, Founder and CEO, Vast Data is an infrastructure startup that provides a managed storage software platform to manage and improve performance in data centers.
The company ended its second year at nearly $100M of annualized software run rate, having quadrupled its software business year over year, while also achieving cash flow positivity.
These results will be consolidated in 2021 and beyond by the company’s new software consumption model called Gemini, which disaggregates the business of hardware and software and provides customers with additional commercial advantages to further the adoption of Universal Storage.