Vast Data Closes $118M Series E Funding; Valued at $9.1 Billion

Vast Data

Vast Data, a remote AI data platform company, raised $118M in Series E funding; at $9.1 Billion valuation.

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

The company intends to use the funds to broaden its business presence, penetrating new regions in Asia Pacific, the Middle East, and Europe.

Led by CEO Renen Hallak, Vast Data provides a platform that unifies storage, database, and containerized compute engine services into a single, scalable software platform architected from the ground up to power AI and GPU-accelerated tools in modern data centers and clouds. The platform enables organizations to understand all data, both structured and unstructured as it exists in the natural world, to generate superior insights and unlock new value.

At the end of FY’Q3, VAST Data surpassed $1 billion in cumulative software bookings. The company achieved 3.3x year-over-year (YoY) growth and maintained positive cash flow for the last 12 quarters with a gross margin of nearly 90%. Its customer roster of global enterprises include Booking Holdings, Inc., U.S. Air Force, U.S. Department of Energy, Verizon, Boston Children’s Hospital, Pixar, and Zoom, among others. Customer partnerships include CoreWeave, Lambda and Core42 (formerly G42 Cloud).

Commenting on the news, Renen Hallak said: “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.