VAST Data Closes Series E Funding Round, Nearly Triples Valuation to $9.1 Billion

NO-HEADQUARTERS | NEW YORK, Dec. 06, 2023 (GLOBE NEWSWIRE) -- VAST Data, the AI data platform company, announced today that it has secured $118 million in Series E funding, led by Fidelity Management & Research Company and accompanied by New Enterprise Associates (NEA), BOND Capital and Drive Capital.

The funding will advance VAST Data’s mission to deliver a new category of infrastructure that puts data at the center of how systems think, react, and discover. This breakthrough will empower organizations to effectively address their most pressing data challenges, enabling unprecedented advancements in technology, economics, social dynamics, and scientific research.

The VAST Data Platform 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 uniquely 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.

“A new AI data stack is required,” said Renen Hallak, CEO and Co-Founder of VAST Data. “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.”

“We believe that VAST Data is a pioneer in the AI GPU space,” said Scott Sandell, Chairman, CEO and CIO at NEA. “With deep learning at the center of the massive AI movement we are experiencing, interest and investment in VAST Data has escalated, and we are thrilled to partner with the VAST Data team as they drive influence and innovation in the global AI technology sector.”

The funding follows a pivotal 2023 calendar year, marked by:

  • Impressive Business Momentum: 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%.
  • Organizations Across All Industries Trust VAST dаta: VAST Data has amassed a growing customer roster of global enterprises including Booking Holdings, Inc., U.S. Air Force, U.S. Department of Energy, Verizon, Boston Children’s Hospital, Pixar, and Zoom, among others, signaling strong market validation.
  • Reimagining AI Cloud Infrastructure: Through innovative customer partnerships with companies like CoreWeave, Lambda and Core42 (formerly G42 Cloud), VAST Data is delivering the infrastructure that is purpose built for next-generation AI clouds.
  • Deepened Commitment to Partners: Since its founding, VAST Data has worked closely with partners to break down technology tradeoffs and barriers while improving the overall customer experience. In May 2023, VAST Data furthered this mission with the VAST Data Platform achieving NVIDIA DGX SuperPOD certification, making large scale AI deployments simpler, faster, more reliable and easier to manage. In April 2023, VAST Data entered into a strategic partnership with HPE, helping enterprise customers manage unstructured data with high performance at scale to deliver superior time to data insight.
  • Global Expansion: Now with more than 700 employees worldwide VAST Data is actively broadening its business footprint, penetrating new regions in Asia Pacific, the Middle East, and Europe.

Supporting Quotes

The VAST Data Platform's capacity to process large quantities of data at unparalleled scale and speed signifies a transformative shift in industry operations, underscoring the pivotal role of deep learning AI in shaping future advancements. This sentiment was shared by customers and partners across the industry, including:

“Data is every company’s most valuable asset,” said Manuvir Das, vice president of Enterprise Computing at NVIDIA. “NVIDIA and Vast Data are collaborating to enable enterprises to harness their data using accelerated computing and cloud-based AI solutions to tackle their biggest challenges.”

'Some of the most data-intensive and computationally advanced customers on the planet trust CoreWeave, NVIDIA and VAST to deliver the most secure and scalable solutions on top of the industry’s fastest and most flexible AI infrastructure,' said Michael Intrator, CEO and co-founder of CoreWeave. 'We’re honored to partner with VAST to provide purpose-built accelerated computing solutions that solve the complex AI and data challenges that enterprises face now and into the future.”

'Data is the only competitive advantage in AI and therefore infrastructure that can simplify and scale data access is crucial for any organization training AI models,' said Sanjeev Mohan, Principal, SanjMo. 'With a modern data platform fine-tuned for the performance and scale AI requires, VAST Data is well-positioned to capture a massive opportunity.'

Additional Resources:

  • BLOG: A New Value, by Jeff Denworth, co-founder at VAST Data

About VAST dаta:
VAST Data is the data platform company built for the AI era. As the new standard for enterprise AI infrastructure, organizations trust the VAST Data Platform to serve their most data-intensive computing needs. VAST Data empowers enterprises to unlock the full potential of their data by providing AI infrastructure that is simple, scalable, and architected from the ground up to power deep learning and GPU-accelerated data centers and clouds. Launched in 2019, VAST Data is the fastest growing data infrastructure company in history. For more information, please visit https://vastdata.com and follow VAST Data on X (formerly Twitter) and LinkedIn.

Media Contact:

Austin Weedfall
VAST Data
press@vastdata.com


VAST Data Closes Series E Funding Round, Nearly Triples Valuation to $9.1 Billion

THỦ THUẬT HAY

Mẹo lưu nhiều ảnh từ Safari cùng lúc trên iOS 15

Với cách dưới đây, bạn không phải lưu từng ảnh từ các trang web về iPhone theo cách thủ công.

Hưỡng dẫn cài đặt chi tiết Sentora trên VPS

Đối với một Webmaster mới tiếp xúc máy chủ VPS thì đây quả là một việc khó khăn khi cài đặt một ControlPanel. Hiện nay có khá nhiều trình quản lý Website hỗ trợ miễn phí.

7 thủ thuật Prisma để biến ảnh đậm chất nghệ thuật

Prisma là ứng dụng chỉnh sửa ảnh với phong cách tranh vẽ nghệ thuật. Với hơn 30 bộ lọc độc đáo, người dùng sẽ được trải nghiệm những tấm hình mới mẻ, độc đáo đậm chất nghệ sĩ.

Cách chụp màn hình và quay video trên máy chơi game Nintendo Switch

Nintendo Switch có một nút dành riêng để chụp màn hình và bây giờ thậm chí nó có thể quay các video trong một số trò chơi. Những ảnh chụp màn hình và video này sẽ được lưu vào bộ lưu trữ nội bộ của Switch hoặc thẻ nhớ

Khôi phục iOS 7.1 sau khi cài đặt iOS 8 Beta trên iPhone hoặc iPad

Bản iOS 8 Beta chắc chắn vẫn còn nhiều lỗi và thiết bị chạy iOS của bạn sẽ không thể hoạt động như bình thường.vì vậy việc hạ cấp xuống iOS 7.1 không phải là khó khăn.

ĐÁNH GIÁ NHANH

So sánh Xiaomi Mi Pad 5 Pro với iPad Pro 11 2021: Lựa chọn nào tốt nhất?

Mới đây, Xiaomi đã trình làng bộ đôi tablet mới thuộc phân khúc cao cấp là Mi Pad 5 và Mi Pad 5 Pro. Trong đó phiên bản Pro được kỳ vọng là đối thủ của iPad Pro 11 inch. Vậy đâu là lựa chọn tốt nhất? Hãy cùng mình đi

Đánh giá Dell XPS 13 9310: Máy tính dành riêng cho giới Doanh nhân

XPS 13 9310 là chiếc laptop 2-trong-1 cao cấp nhất trong phân khúc 13 inch dành cho doanh nhân. Đây cũng là sản phẩm đầu tiên của Dell hợp chuẩn Intel Evo, thiết kế tập trung vào giá trị cốt lõi để mang lại cảm hứng,

So sánh Xiaomi Redmi Note 11 và Redmi Note 10: Có nên nâng cấp không?

Redmi Note 11 nằm trong bộ 3 Redmi Note 11 series vừa ra mắt và là bản nâng cấp của Redmi Note 10. Giữa 2 thế hệ có điểm gì khác biệt, có nên nâng cấp không? Bài so sánh Xiaomi Redmi Note 11 và Redmi Note 10 dưới đây