VAST Data Secures $118 Million to Revolutionize AI Data Infrastructure
VAST Data, a leading AI data platform, has announced the successful fundraising of Series E of $118 Million. Fidelity Management & Research Company led the round with key players such as New Enterprise Associates (NEA), BOND Capital, and Drive Capital.
The company tripled its value to $9.1 Billion.
The funding will advance VAST Data’s mission to establish a new category of infrastructure centered around data. The VAST Data Platform stands out by unifying storage, database, and computer engine services into a cohesive, scalable software platform. The tool’s architecture powers AI and GPU-accelerated tools in modern data centers and clouds.
Renen Hallak, CEO and Co-Founder of VAST Data emphasized the need for a new AI data stack. “In this era of AI and deep learning, the quality, organization, and accessibility of data are as crucial as its volume,” Hallak stated. “Our platform is designed to facilitate automated discovery, tackling some of humanity’s most complex challenges.”
The company has achieved a significant milestone with over $1 Billion in cumulative software bookings by the end of FY’Q3. It shows a remarkable 3.3x year-over-year growth and sustained profitability.
Scott Sandell, Chairman, CEO, and CIO at NEA, hailed VAST Data as a pioneer in the AI GPU space. “With deep learning at the heart of the AI movement, our investment reflects our confidence in VAST Data’s potential to lead and innovate in the global AI technology sector,” Sandell remarked.
Source: VAST Data
VAST Data shows positive growth
The company’s success shows that global enterprises like Booking Holdings Inc., Verizon, Pixar, and Zoom are clients. This also shows strong market validation across multiple industries. CoreWeave, Lamba, and Core42 have strategic collaborations with VAST Data to strengthen reimagining AI cloud infrastructure. In addition, they have achieved NVIDIA DGX SuperPOD certification.
Manuvir Das, vice president of Enterprise Computing at NVIDIA, recognized the transformative potential of VAST Data’s platform. “Collaborating with VAST Data enables enterprises to utilize accelerated computing and cloud-based AI solutions to address their biggest challenges,” Das said.
With the new infusion of capital and continuous industry support, VAST Data aims to redefine the landscape of AI data infrastructure, driving innovation and enabling new technological advancements.
